How will interest rates on stock mortgages be reduced? A relevant central bank official said that the self-regulatory mechanism for market interest rate pricing will issue an initiative to guide commercial banks to carry out a batch adjustment of interest rates on stock mortgages by October 31, 2024. Commercial banks will issue relevant announcements and batch adjustment rules to uniformly reduce mortgage interest rates on the basis of LPR and provide convenience to borrowers as much as possible. The vast majority of borrowers can complete the “one-click operation” through online banking, mobile banking and other channels. There is no need to go to a commercial bank branch to apply. For details, please keep an eye on the relevant information posted on the official platform of the underwriting commercial bank. After batch adjustments are completed, both borrowers and lenders can also independently negotiate and dynamically adjust interest rates on existing mortgages based on market-based principles in accordance with the People's Bank of China Notice (2024) No. 11.

How will interest rates on stock mortgages be reduced? A relevant central bank official said that the self-regulatory mechanism for market interest rate pricing will issue an initiative to guide commercial banks to carry out a batch adjustment of interest rates on stock mortgages by October 31, 2024. Commercial banks will issue relevant announcements and batch adjustment rules to uniformly reduce mortgage interest rates on the basis of LPR and provide convenience to borrowers as much as possible. The vast majority of borrowers can complete the “one-click operation” through online banking, mobile banking and other channels. There is no need to go to a commercial bank branch to apply. For details, please keep an eye on the relevant information posted on the official platform of the underwriting commercial bank. After batch adjustments are completed, both borrowers and lenders can also independently negotiate and dynamically adjust interest rates on existing mortgages based on market-based principles in accordance with the People's Bank of China Notice (2024) No. 11.