China Rate Cut Seen Halting Home Sales Slide as Sentiment Turns
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China’s first interest-rate cut since 2012 is set to halt a slide in property sales, reducing developers’ stock of unsold homes that has weighed on prices.
The central bank’s surprise reduction in its benchmark rate on Nov. 21 adds to discounts of as much as 12 percent on mortgages banks are already offering to first-home buyers, according to SouFun Holdings Ltd.