The first-home loan interest rate can be adjusted dynamically, and there is no movement in eligible cities

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The People’s Bank of China and the China Banking and Insurance Regulatory Commission recently issued a notice deciding to establish the first dynamic adjustment mechanism for housing loan interest rate policies. Eligible cities can maintain, lower or cancel the lower limit of the local first-home mortgage interest rate policy in stages. According to statistics, among the 70 large and medium-sized cities, 38 cities are eligible. It is expected that the first-home loan interest rate in some cities will continue at the previous level, or it is expected to be further lowered. After the release of the notice, the first-home mortgage interest rates in Shijiazhuang, Lanzhou, Taiyuan, and Zhengzhou have not yet been lowered. Kunming had already raised the first-home loan interest rate from 3.95 percent to 4.1 percent before the announcement. (Shanghai Stock Exchange)
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