Guangzhou Banks Further Ease First-home Mortgage Requirement

After Guangzhou eased its house-buying curbs last month, some banks further eased mortgage policies to allow more homebuyers to qualify for lower down payments and mortgage rates.

Guangzhou and other first-tier cities including Beijing, Shanghai and Shenzhen since last summer have broadened the definition of first-home mortgages as part of a series of measures to shore up the distressed property market.