Few Banks Call off Favorable First-Home Mortgage Rate

BEIJING, Mar. 16 -- After the nation called off favorable policies for buying housing in Beijing, most banks in the capital city are still offering 30 percent discounts to first-home mortgages, Beijing Times reported on March 15.

According to a monthly report released by Bankrate.com.cn last month, only seven banks have canceled the 30 percent discount offer, the newspaper reported.

Guangdong Development bank has adjusted the discount rate to 20 percent, while Bank of China, China Merchants Bank, China Everbright Bank, Beijing Rural Commercial Bank, Shengjing Bank and Bank of Nanjing have adjusted the discount rate to 15 percent.