China cuts its benchmark lending rate and lowered the mortgage reference on Monday in a bid to shore up growth.
The one-year loan prime rate (LPR) came in at 3.65 percent, down from 3.7 percent, according to the National Interbank Funding Center.
The over-five-year LPR, on which many lenders base their mortgage rates, was lowered by 15 basis points to 4.3 percent.
