The central bank and the China Banking Regulatory Commission relaxes the lower limit of interest rates in the first set of housing loans in some cities

Xinhua News Agency, Beijing, September 29th. The People's Bank of China and the China Banking Regulatory Commission issued a notice on the 29th to determine the phased adjustment of differentiated housing credit policies.Eligible urban governments can decide to maintain, lower or cancel the lower limit of the first set of housing loan interest rates in the first place in the first time of the end of 2022.

Relevant sources of the People's Bank of China said that the introduction of this policy and measures is conducive to supporting the urban government's "policy of urban policies" to make good use of policy toolboxes to promote the steady and healthy development of the real estate market.Within the scope of the local policy, banks and customers can negotiate to determine the specific newly issued first set of housing loan interest rates, which will help reduce residential interest expenses and better support the demand for rigid housing.

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