CX Daily: Five Things to Know About Early Mortgage Repayments in China

Mortgage /

Five things to know about early mortgage repayments in China

Some mortgage holders in China are tapping their savings to pay off home loans ahead of schedule, feeling the pinch of the high interest rates they took on in years past while borrowing costs for new homebuyers have been falling since last year.

One economist estimated that last year 4.7 trillion yuan ($700 billion) of mortgages — 12% of China’s outstanding total — were paid off early.