Mei Ri Jing Ji Xin Wen·2025-08-30 10:16Core Points - Shanghai has implemented new policies to adjust commercial housing loan interest rates for second homes, aiming to reduce the cost of housing for residents [1][4][16] - Over 20 banks, including major institutions like ICBC and Bank of China, have announced adjustments to their housing loan rates following the new regulations [3][4] - The new policy eliminates the distinction between first and second home loan rates, allowing for a more flexible interest rate determination based on market conditions and individual borrower profiles [4][21] Summary by Category Policy Changes - The new regulations allow eligible borrowers to have their second home loan rates lowered, which is expected to reduce the financial burden of purchasing improved housing [4][21] - The policy also includes a reduction in housing purchase restrictions, allowing eligible families to buy unlimited homes outside the city’s outer ring [17][21] Interest Rate Adjustments - Current interest rates for first and second homes are set at 3.05% and 3.25%-3.45% respectively, with potential monthly savings of up to 439 yuan for second home buyers in non-differentiated areas [4][5] - Existing loan rates can be adjusted for borrowers whose rates exceed the average new loan rates by more than 30 basis points, with the new rates taking effect from September 1, 2025 [5][10] Housing Fund Policies - The new policies also enhance housing provident fund support, increasing loan limits for first-time buyers and allowing for fund withdrawals to cover down payments [18][19][20] - The adjustments aim to stimulate housing consumption and improve the overall market activity in Shanghai, particularly during the traditional peak sales season [22]