What changes will multiple new policies bring to buyers? Let's get to know!

The People's Bank of China and the State Administration of Financial Supervision and Administration issued a notice: for households who purchase commercial housing with loans, the minimum down payment ratio of commercial individual housing loans for the first housing should be adjusted to not less than 15%; The minimum down payment ratio of commercial individual housing loans for two sets of housing is adjusted to not less than 25%.

In addition, the People's Bank of China has decided to cut the personal housing provident fund loan interest rate by 0.25 percentage points from May 18, 2024, and the first personal housing provident fund loan interest rate for less than five years (including five years) and more than five years will be adjusted to 2.35% and 2.85% respectively; The loan interest rate of the second set of personal housing provident fund for less than five years (including five years) and more than five years is adjusted to not less than 2.775% and 3.325% respectively.

At the same time, the lower limit of interest rate policy for commercial individual housing loans for the first and second housing units at the national level will be cancelled.

According to expert analysis and prediction, the interest rate of most urban housing loans may decline by 0.3 or 0.4 percentage points after the lower limit of the commercial individual housing loan interest rate policy for the first and second housing at the national level is cancelled; The total interest expense can be reduced by more than 70000 yuan according to the calculation of 1 million loan, 30 year term, and equal principal and interest repayment.