PBOC Follows Through on Mortgage Changes

Bloomberg: China Loosens Home-Buying Rules to Counter Economic Slowdown

The required down payment for some second homes was lowered to 40 percent from 60 percent, the People’s Bank of China said on its website. The finance ministry later said select homeowners will be exempted from a sales tax if they sell after holding a property for two years or more. The previous minimum to avoid the 5.5 percent tax was five years.