LPR和存款利率双降，向房地产市场释放了什么积极信号？

Core Points - The People's Bank of China announced a decrease in the Loan Prime Rate (LPR), with the 1-year LPR at 3% and the 5-year LPR at 3.5%, both down by 10 basis points from the previous month [1] - Major banks collectively lowered deposit rates, with a 5 basis point reduction in demand deposits and a 15 to 25 basis point reduction in fixed-term deposits [1] - The reduction in deposit rates is expected to lower the cost of liabilities for commercial banks, enhancing their willingness to lend [1][2] Group 1: Impact on Real Estate Market - The real estate market showed signs of stabilization, with new residential sales area declining by 2.8% year-on-year from January to April 2025, but the decline rate has narrowed [1][2] - The decrease in LPR is anticipated to lower financing costs for both enterprises and residents, which is crucial for stimulating investment and consumption [1][3] - The current policy environment is expected to support the real estate market, with core cities showing positive performance [2][4] Group 2: Future Policy Directions - The central bank's recent actions, including a reduction in public housing loan rates, are expected to create more room for lowering commercial mortgage rates [3] - The government has shown strong confidence and determination to stabilize the real estate market, with a variety of supportive policies anticipated to be implemented [4][5] - Comprehensive policies aimed at boosting domestic demand and consumption are expected to strengthen the fundamentals of the real estate market [5]