The 30% discount on interest rates in 2008 lasted for more than a year. According to the query of relevant information, the “30% off interest rate preferential policy” began in 2008. In response to the decline in real estate market demand caused by the financial crisis, the People's Bank of China stipulated that starting from October 27, 2008, the commercial personal housing loan interest rate will be adjusted downward to 70%, and the minimum down payment ratio will be adjusted to 20%. Under the loose monetary policy in 2009, most banks offered a 30% discount on mortgage interest rates for new and old customers who were buying homes for the first time. Many banks even took the initiative and provided loans for "second homes" or even "third homes". All of them have issued loans with interest rates at 30% off. Data from the central bank show that in 2009, RMB loans increased by 9.59 trillion yuan, of which real estate development loans increased by 576.4 billion yuan, and personal consumption housing loans increased by 1.4 trillion yuan. Twenty percent of RMB loans flowed into the property market, and about 14.6% of the money was loaned out to buy houses at a low interest rate of about 30%. Whether it is a large state-owned bank, a developing joint-stock bank, or even a city bank that only handles regional business, in order to seize the market, they have all played the trump card of lowering borrowers' loan interest rates in the hope of "small profits but quick turnover." As early as the end of April 2010, Bank of China will be the first among its peers to announce adjustments to the preferential mortgage interest rate policy, adjusting the floating rate of first, second, third and above mortgage interest rates to 0.85 times, 1.1 times and 1.1 times the benchmark interest rate respectively. 1.2 times; in August 2010, it is no secret that the 30% discount on interest rates has quietly disappeared in big cities such as Beijing and Shanghai.