Core Viewpoint - Multiple banks in Shenzhen have initiated adjustments to housing loan interest rates, eliminating the distinction between first and second homes, which is expected to reduce the total repayment cost for second home loans significantly [1][2]. Group 1: Policy Changes - On September 12, 12 banks, including Industrial Bank and Agricultural Bank of China, announced adjustments to their housing loan interest rates based on the new policy from Shenzhen [1][2]. - The new policy states that the interest rate for second home loans will be reduced by 40 basis points compared to previous rates, which were LPR-45BP for first homes and LPR-5BP for second homes [2][3]. Group 2: Financial Impact - For a loan of 1 million yuan over 30 years, the total repayment cost for second home loans will decrease by nearly 80,000 yuan, with monthly payments reduced by approximately 220 yuan [2][3]. - The adjustment mechanism for existing loans allows borrowers with rates higher than the average new loan rates plus 30 basis points to apply for a rate adjustment [4][5]. Group 3: Market Reactions - Experts suggest that while the interest rate reduction has a positive impact, the actual effect on the housing market may be limited, as factors like buyers' payment capabilities and market competition play a more significant role [3]. - The adjustment of existing loan rates is part of a broader mechanism established by the central bank to ensure that existing loan rates align more closely with current market conditions [4][5].

Core Viewpoint - The recent policy changes in Shenzhen's housing market, effective from September 12, 2025, eliminate the distinction between first and second home mortgage rates, potentially lowering the new second home loan rates by 40 basis points [4][6]. Group 1: Policy Changes - Shenzhen's new housing policy allows banks to no longer differentiate between first and second home loans, impacting the pricing mechanism for commercial personal housing loans [5][6]. - Twelve banks, including major institutions like Industrial Bank and Agricultural Bank of China, have announced adjustments in line with the new policy [3][5]. Group 2: Interest Rate Adjustments - The new second home loan interest rate is expected to decrease by 40 basis points, resulting in significant savings for borrowers. For a loan of 1 million yuan over 30 years, total repayment costs could decrease by nearly 80,000 yuan, with monthly payments reduced by approximately 220 yuan [6][7]. - The previous interest rates for first and second homes were LPR-45BP and LPR-5BP, respectively, indicating a limited difference in rates prior to the policy change [6][7]. Group 3: Impact on Existing Loans - Existing second home loans may also see adjustments due to the new policy, as banks can now modify the interest rates based on the latest market conditions [9][10]. - Borrowers with existing loans that exceed the average new loan interest rate by 30 basis points can apply for adjustments, potentially lowering their rates significantly [9][10]. Group 4: Application Process - Different banks have varying processes for borrowers to apply for interest rate adjustments, with some offering online applications through mobile banking platforms [11].

Core Viewpoint - Shenzhen has implemented new policies regarding housing loans, allowing for adjustments in interest rates for second homes, which may lead to a reduction in borrowing costs for homeowners [2][3]. Group 1: Policy Changes - As of September 12, 2023, 12 banks in Shenzhen announced that they will no longer differentiate between first and second home loans in their interest rate pricing [2][3]. - The new policy allows for the adjustment of interest rates on existing second home loans, with clients able to apply for these adjustments immediately [2][5]. Group 2: Interest Rate Adjustments - The new interest rate for second home loans may decrease by 40 basis points, resulting in significant savings for borrowers [3][4]. - For a loan of 1 million yuan over 30 years, the total repayment cost could decrease by nearly 80,000 yuan, with monthly payments reduced by approximately 220 yuan [3][4]. Group 3: Mechanism for Existing Loans - Existing loans that have interest rates higher than the average new loan rates plus 30 basis points can apply for adjustments [5][6]. - The People's Bank of China has established a mechanism for the regular adjustment of existing loan rates, allowing borrowers to negotiate changes based on market conditions [5][6]. Group 4: Application Process - Different banks have varying channels for clients to apply for interest rate adjustments, with some offering online applications through mobile banking platforms [7]. - Clients can check their eligibility for rate adjustments through designated online functions provided by their banks [7].

Core Viewpoint - The recent policy changes in Shenzhen's real estate market have prompted multiple banks to adjust their housing loan interest rate mechanisms, eliminating the distinction between first and second home loans, and allowing for dynamic adjustments in existing loans [1][2][4]. Group 1: Policy Changes - Shenzhen banks, including ICBC and CCB, announced that they will no longer differentiate between first and second home loans for commercial personal housing loans [2][3]. - The specific interest rates for each customer will be determined based on the Shenzhen market interest rate pricing self-discipline mechanism, along with the bank's operational status and customer risk profile [2][3]. Group 2: Impact on Existing Loans - The new policy will benefit existing loan customers, particularly those with second home loans, as some may see a decrease in their interest rates [4][6]. - ICBC indicated that from September 12, eligible customers can apply for adjustments to their loan interest rates if their existing rates exceed the average new loan rates by 30 basis points [4][5][6]. Group 3: Industry Response - Other banks, such as SPDB and Shanghai Bank, have issued similar announcements regarding the adjustment of housing loan interest rates in line with the new policy [3][4]. - The response from banks may be slightly delayed due to the complexity of their credit systems, which require time for technical adjustments following sudden policy changes [3][6]. Group 4: Future Outlook - Industry insiders suggest that there may still be room for further reductions in housing loan interest rates in the future, considering various factors [7].