[Industry News]: Central Bank: Reduce existing mortgage interest rates
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September 24, 2024, 9:47 AM Financial Union, September 24. The State Council Information Office held a press conference this morning. The main leaders of the People's Bank of China, the State Administration for Financial Supervision, and the China Securities Regulatory Commission of China introduced the situation of financial support for high-quality economic development. A number of key policies were launched at the same time to increase the intensity of monetary policy regulation and further support stable economic growth. The main person in charge of the People's Bank of China said that in terms of mortgage loans, the interest rate on existing mortgage loans will be reduced and the minimum down payment ratio for mortgage loans will be unified. Specifically: guide commercial banks to reduce existing mortgage interest rates to around new mortgage interest rates, with an average decline of about 0.5 percentage points. Reduce the minimum down payment ratio for second home loans at the national level from 25% to 15%, and unify the minimum down payment ratio for first and second homes.