What does it mean to lower the benchmark interest rate for deposits and loans?

It means that banks cut deposit and loan interest rates.

Before the market-oriented reform of loan interest rate, it was mainly to adjust the loan interest rate, which would be lowered with the deposit interest rate.

Every time the bank adjusts the deposit interest rate, it will lower the loan interest rate, so it is called the deposit and loan interest rate reduction.

How to calculate interest on loan to buy a house

Where does the money go after the mortgage is approved?

Mortgage loan approval has to go through several departments.

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