What's new: A rate cut for existing home mortgages is necessary, and China Merchants Bank has been studying such a move, a senior bank executive said amid rising expectations of a broader easing of mortgage terms to arrest the housing market downturn. China Merchants developed a contingency plan for potential reductions in existing mortgage rates, but the final plan has not been completed, said Peng Jiawen, the bank's assistant president.

https://www.caixinglobal.com/2023-08-30/rate-cuts-on-existing-home-loans-highly-probable-china-merchants-says-102098100.html

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