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phoenix finance news on the morning of september 24, 2024, the state council information office held a press conference. pan gongsheng, governor of the people's bank of china, said that the interest rates of existing mortgages will be lowered and the down payment ratio of mortgages will be unified, guiding the interest rates of existing mortgages of commercial banks to drop to the level of interest rates of newly issued loans, and the average drop is expected to be about 0.5 percentage points; the down payment ratios of first and second mortgages will be unified.

in this regard, yan yuejin, deputy director of shanghai e-house real estate research institute, pointed out that in response to the topic of lowering the interest rate of existing mortgage loans, which is of most concern to the people recently, the central bank has made it very clear this time to guide commercial banks to lower the interest rate of existing mortgage loans to near the interest rate of newly issued mortgage loans. the implication is that in the near future, banks will continue to reduce the mortgage costs of monthly installment families according to the deployment of the central bank. a simple calculation shows that if it can be reduced by 50 basis points, then for a loan principal of 1 million and a 30-year equal principal and interest repayment method, the monthly payment can be reduced by 300 yuan. this is also the second time that the interest rate of existing mortgage loans has been reduced nationwide since the first reduction in the interest rate of existing mortgage loans last year, which really reduces the monthly payment burden for home buyers or loan repayment families.

he believes: "regarding the down payment ratio, this time a relaxed down payment ratio guideline has been implemented for second sets of houses or improved housing. in the past, although the down payment ratio for second sets of houses was lowered, it was still slightly higher than that for first sets of houses. however, this time it has been lowered to 15%, which will help to lower the down payment ratio and purchase threshold for second sets of houses or improved housing. a simple calculation shows that if a family subscribes to a second set of houses with a total price of 2 million, the down payment used to be 500,000, but now it has been reduced to 300,000, a direct reduction of 200,000, which naturally activates the demand for improvement or house change."

in addition, in yan yuejin's view, the central bank's policy this time covers both existing mortgage loans and new home purchase demand, with a wide coverage and great benefits, and has played a positive role in reducing home purchase costs, continuously enhancing home purchase confidence, and continuously reducing the risks of existing mortgage loans. it is also a hot topic among citizens recently, and it helps to continuously drive residents' consumption. it is the most powerful and most beneficial mortgage policy so far.