Except for Beijing, Shanghai and Shenzhen, other cities across the country have cancelled the floor on mortgage interest rates

On June 14th, the People's Bank of China issued the "Notice on Adjusting the Interest Rate Policy for Commercial Personal Housing Loans", canceling the lower limit of the interest rate policy for commercial personal housing loans for first and second homes at the national level. According to the reporter, the policy has basically been implemented. Except for Beijing, Shanghai and Shenzhen, other cities in the country have cancelled the lower limit of housing loan interest rates. Some Financial Institution Groups have reported that after the lower limit of urban housing loan interest rates is cancelled, interest rates will decline, and a new equilibrium level will be formed after the market is fully competitive, which is conducive to meeting the reasonable housing purchase needs of residents and driving the increase in new housing loans.