China News Agency, Beijing, November 18 (Reporter Pang Wuji) According to a statistical data released by the China Index Research Institute on the 18th, more than 80 places in China, including Shijiazhuang and Wenzhou, have adjusted the down payment ratio of first-home commercial loans to 20%; More than 20 places including Wuhan and Guiyang have lowered the first-home loan interest rate to below 4%.

In many cities, mortgage rates and down payments are already at historic lows.

　　Since the beginning of this year, many ministries and commissions have continued to release favorable policies, various regions have actively implemented city-specific policies, and credit policies on the real estate demand side have been continuously optimized.

　　The "Financial 16 Articles" issued by the People's Bank of China and the China Banking and Insurance Regulatory Commission in November proposed to support local governments to implement differentiated housing credit policies based on national policies, and to reasonably determine the down payment ratio of local personal housing loans and the lower limit of loan interest rates. Support rigid and improved housing needs.

　　At present, the lower limit of the down payment ratio for first-home commercial loans in various parts of China is 20%.

According to the 2016 notice issued by China’s two departments on issues related to the adjustment of personal housing loan policies, in cities that do not implement the “purchase restriction” measures, the minimum down payment ratio in principle is 25% for commercial personal housing loans for households purchasing ordinary housing for the first time. All regions can float down by 5 percentage points; the minimum down payment ratio for a second house is adjusted to no less than 30%.

　　Chen Wenjing, director of market research at the China Index Research Institute, told China News Agency that more than 80 places including Shijiazhuang, Wenzhou, Ganzhou, Chongqing, Nanning, Lanzhou, Yichang, Zhangjiakou, Langfang, and Guiyang have reduced the down payment ratio for first-home commercial loans to 20. % lower limit.

　　Since September, the Chinese government announced a phased adjustment of the differentiated housing credit policy, and many places have successively lowered the interest rate of first-home commercial loans.

At present, the interest rate of first-home loans in more than 20 places, including Qingyuan, Yunfu, Zhanjiang, Jining, Wuhan, Guiyang, and Jiangmen, has dropped below 4%.

　　According to Chen Xiao, a senior analyst at the Zhuge Housing Search Data Research Center, Tianjin, Guiyang, Wuhan and Xiangyang have all lowered interest rates to 3.9%. Many banks in Shijiazhuang have lowered the interest rate for first-home loans from 4.1% to 3.8%. The lowest interest rate for the first home loan can be as low as 3.7%, which is the current lowest level.

Next, it is expected that the adjusted cities will continue to expand.

　　Behind the loose credit policy for home purchases is the downturn in China's property market.

According to official data, from January to October, China's real estate development investment fell by 8.8% year-on-year; the cumulative area of ​​new housing starts and the area of ​​land purchases both fell sharply year-on-year.

In October, the decline in house prices in 70 large and medium-sized cities in China deepened, and house prices in some second- and third-tier cities fell back to two years ago.

　　Chen Wenjing pointed out that the further easing of credit policies will help reduce the cost of purchasing houses for residents, ease the wait-and-see sentiment in the market, and drive the release of housing demand.

At present, some second-tier cities still have some room for optimization of the purchase restriction and loan restriction policies. It is expected that with the implementation of the "Financial 16 Measures", the policy strength in various regions is expected to increase in the short term.

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