May 13, 2024
Loans

Borrowers in China Start Using Consumer Loans to Repay Mortgages as Interest Rates Fall

(Yicai) March 6 — Affected by China’s relatively loose monetary policy, interest rates on consumer loans have dropped to as low as 3 percent, leading some customers to take such loans to repay their mortgages that have interest rates of around 4.5 percent. After the Chinese New Year holiday, people can apply for consumer loan

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