After yesterday s move, the rate for mortgage loans longer than five years will be 4.30 percent, and 3.75 percent for those of five years and shorter.
The central bank raised interest rates by 25 basis points Saturday, the second time in only just two months, in a bid to contain the country s stubbornly high inflation.
This will further increase the cost of home purchases and will, to some extent, curb investment demand in the property market, the Xinhua news agency quoted Chen Ming, marketing chief of real estate 5i5j, as saying.
The government started tightening the property market late last year, but house prices have remained out of reach for most middle-class families in many cities, although the growth of house prices has slowed recently.
Land costs, a major contributor to high housing prices, have showed signs of a rebound in recent weeks, triggering concerns of fresh tightening steps by the Central Government.
(SD-Agencies)
