This adjustment has three characteristics. First, to adapt to the interest rate marketization reform, the new commercial individual housing loan interest rate in our province is formed by adding the loan market quotation (LPR) in the same period of the last month as the pricing benchmark. Second, the lower limit of the interest rate of the first home loan in the province is uniformly adjusted to the loan market quotation price (LPR) of the corresponding term. In Taiyuan, for example, before the implementation of the policy, the lower limit was the benchmark loan interest rate of 4.9%, and after the implementation of the policy, the quoted loan market interest rate (LPR) of 4.85% was taken as an example, which was 5 basis points lower than before. Third, the lower limit of the interest rate of the second home loan in the province is uniformly adjusted to the loan market quotation plus 60 basis points. The minimum down payment ratio has not been adjusted. The minimum down payment ratio of the first home loan in our city is 30% of the purchase contract amount, and the minimum down payment ratio in other cities is 20% of the purchase contract amount. The minimum down payment ratio of the second home loan in our city is 40% of the purchase contract amount, and the minimum down payment ratio in other cities is 30% of the purchase contract amount.
Source: Taiyuan Daily