A number of heavy policies to support real estate were released. The industry said that the adjustment exceeded expectations and sent a ＂stable＂ signal.

CCTV News:On May 17th, a number of heavy policies supporting real estate were released: explicitly canceling the lower limit of the national mortgage interest rate policy, lowering the mortgage down payment ratio and provident fund loan interest rate, and planning to set up affordable housing refinancing. Industry experts said that the adjustment of housing finance policy exceeded expectations and sent a clear signal to stabilize the real estate market.　

The People’s Bank of China and the State Financial Supervision and Administration issued a notice that the minimum down payment ratio of the first and second home loans should be reduced to not less than 15% and not less than 25% respectively.

Yin Zhongli, director of the Real Estate Finance Research Center of the Institute of Finance of China Academy of Social Sciences, said: "The down payment ratio has dropped to 15%, which is the lowest down payment ratio in history. The adjustment of the down payment ratio and the lower limit of interest rate policy will have obvious effects on incremental housing. "　

The central bank announced the cancellation of the lower limit of the interest rate policy for the first and second home loans at the national level, and lowered the interest rate for individual housing provident fund loans. Industry insiders predict that after the implementation of the policy, the mortgage interest rate in most cities may drop by 0.3— 0.4 percentage points. According to the method of 1 million yuan loan, 30-year term and equal principal and interest repayment, the total interest expenditure can be reduced by more than 70 thousand yuan.

Experts said that the adjustment of the housing financial policy was stronger than expected, which sent a clear signal to stabilize the real estate market. "After the introduction of the policy package of the People’s Bank of China, it will meet the policy expectations of buyers to a certain extent and is expected to form a real estate market. ‘ Policy bottom ’ " .

Revitalizing existing housing is the key to resolving real estate risks. The People’s Bank of China newly set up a loan of 300 billion yuan for affordable housing to support local state-owned enterprises to purchase completed unsold commercial housing at a reasonable price, and use it as allotment-type or rent-type affordable housing. State-owned enterprises in Zhengzhou, Nanjing, Zhuhai and other places have tried first, and participated in the destocking of existing housing through direct acquisition and trade-in.

Shaanxi: The interest rate of individual housing provident fund loans will be lowered from now on.

After the central bank announced on May 17 that it would lower the interest rate of individual housing provident fund loans, Shaanxi, Henan and other places immediately followed suit. On May 17th, Shaanxi Housing Fund Management Center issued the Notice on Lowering the Loan Interest Rate of Individual Housing Provident Fund (hereinafter referred to as the Notice), which will be implemented from May 18th.

According to the Notice, since May 18, 2024, the interest rate of individual housing provident fund loans will be lowered by 0.25 percentage point, and the interest rates of the first set of individual housing provident fund loans for less than five years (including five years) and more than five years will be adjusted to 2.35% and 2.85% respectively, and the interest rates of the second set of individual housing provident fund loans for less than five years (including five years) and more than five years will be adjusted to 2.775% and 3.325% respectively.

The "Notice" also clarifies that the new interest rate standard will be implemented from January 1, 2025 for individual housing provident fund loans that have been issued before May 18 with a loan term of more than one year. Personal housing provident fund loans that have been accepted but not issued before May 18 will be subject to the new interest rate standard when issued.

Jeikiy, director of the Finance Department of the Housing Provident Fund Management Center in Xi ‘an, Shaanxi Province, introduced that according to the repayment method of principal and interest equal to the first loan, with a 30-year period and a maximum loan of 650,000 yuan for a single employee, the interest can be saved by more than 30,000 yuan; According to the maximum loan amount of 850,000 yuan for dual employees, the interest can be saved by more than 40,000 yuan; For families with many children, the maximum loan of 1.02 million yuan can save interest expenses by nearly 50 thousand yuan. Superimposed mortgage down payment policy, the purchase mode of "low down payment+low commercial loan interest rate+low provident fund interest rate" will better play the role of housing provident fund in safeguarding people’s livelihood.

Before the interest rate of personal housing provident fund loans was lowered this time, on May 10th, Shaanxi Housing Fund Management Center issued the Notice on Adjusting Relevant Policies of Housing Provident Fund Loans, in which the down payment ratio of using provident fund loans to purchase houses, the loan period for purchasing second-hand housing and the maximum loan amount for families with two or more children were adjusted.

Henan: Lowering the interest rate of personal housing provident fund loans only requires high enthusiasm for crowd consultation.

Zhengzhou, Henan Province also lowered the interest rate of individual housing provident fund loans by 0.25 percentage points from the 18th. The reporter saw in the Guancheng District Administrative Service Center of Zhengzhou City that many citizens came to consult and handle the "business-to-public" business of personal housing loans.

The reporter learned in an interview with Guancheng District Administrative Service Center that the number of citizens who came to consult and handle the "business-to-public" business of personal housing loans has increased significantly recently, and the number of business consultations and handling in the last week has accumulated more than 1,000.