Home » Our city lowers the interest rate for newly issued first-home commercial loans_Dalian News_Dalian Tianjian.com

Our city lowers the interest rate for newly issued first-home commercial loans_Dalian News_Dalian Tianjian.com

by admin

Dalian Implements Lower Limit on Commercial Personal Housing Loan Interest Rates

Dalian News Media Group reporter Ji Cun reported yesterday that the Municipal Housing and Urban-Rural Development Bureau has implemented a lower limit on commercial personal housing loan interest rates for newly issued first-home housing in accordance with recent policies.

According to the “Notice on Establishing a Long-term Mechanism for Dynamic Adjustment of Interest Rate Policies for New Individual Housing Loans for First Homes” issued by the People’s Bank of China and the State Administration of Financial Supervision, Dalian has set a lower limit of interest rates for newly issued first-home housing loans at LPR-50 basis points in the first quarter of this year.

Following the recent adjustment of the loan market quoted interest rate (LPR) by the People’s Bank of China on February 20, 2024, the 1-year LPR is now 3.45%, and the 5-year and above LPR is 3.95% (25% lower than before). This adjustment means that the lower limit of personal housing loan interest rates with a term of more than 5 years will be reduced to 3.45% until the next LPR announcement.

For borrowers taking out a loan of 1 million yuan with equal principal and interest for 30 years, the total interest savings could be around 50,000 yuan due to this adjustment.

This move by the Dalian government is aimed at providing more favorable financing options for homebuyers and stimulating the local real estate market. Homeowners and potential buyers are encouraged to take advantage of these lower interest rates to invest in their dream homes.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy