Real estate welcomes the blockbuster news again! On May 17, the People's Bank of China and the State Administration of Financial Supervision jointly issued a notice to make major adjustments to the personal housing loan policy. This series of adjustments involves many aspects such as down payment ratio, provident fund loan interest rate and commercial personal housing loan interest rate, which is praised by the market as a "big red envelope" issued by the financial sector to the real estate market.
The adjustments are as follows:
1. Adjustment of down payment ratio: The minimum down payment ratio for commercial personal housing loans for the first house is adjusted to not less than 15%, and the minimum down payment ratio for commercial personal housing loans for second houses is adjusted to no less than 25%.
2. Provident Fund Loan Interest Rate Adjustment: From May 18, 2024, the interest rate of personal housing provident fund loans will be reduced by 0.25 percentage points, the interest rates of the first set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years will be adjusted to 2.35% and 2.85% respectively, and the interest rates of the second set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years will be adjusted to no less than 2.775% and 3.325% respectively.
3. Abolition of the lower limit of the interest rate policy for commercial personal housing loans: The lower limit of the interest rate policy for commercial personal housing loans for the first and second houses at the national level will be abolished.
For home buyers, a lower down payment means a lower threshold for home ownership, especially for buyers of second homes, where a lower down payment will lead to more access to financing. At the same time, the reduction of the CPF loan interest rate will also reduce the burden on home buyers and reduce the cost of home purchase.
This series of policy adjustments will further stimulate the demand of the real estate market, especially for the real estate market in second-tier cities and below, the demand for housing may further increase, and the upward pressure on housing prices may increase. The removal of the lower limit of the interest rate policy for commercial personal housing loans will also increase the flexibility of the market, and financial institutions can set loan interest rates more flexibly, which will help better meet market demand.
This series of policy adjustments has caused a strong reaction in the market, and the real estate sector of A-shares and Hong Kong stocks has risen in a straight line, and investors' positive attitude towards policy adjustments is very obvious.
Obviously, the bottom of real estate will help stabilize the economy and the market, and the spring of A-shares may have come!
The CSI 500 also welcomed the red again, and the ChinaAMC CSI 500 Index Enhanced A (007994) rose 1.12% today. It has risen by 5.46% this year, and it has been very stable in the midst of market turmoil.
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