The charges for 1-year or much less tenure shall be lowered by 10 bps to 1.45%. In the meantime, 2-year charges shall be lower by 20 bps to 1.65%, 3-year charges lower by 25 bps to 1.95%, and 5-year charges lower by 25 bps to 2.00%. All of that is to ease strain on financial institution earnings as an effort for lenders to decrease mortgage charges and bolster the property sector.
This text was written by Justin Low at www.forexlive.com.
