Core Viewpoint - The recent policy change in Shanghai eliminates the distinction between first and second home mortgage rates, which is expected to stimulate more demand for home improvements [1] Summary by Relevant Categories Mortgage Rate Changes - The new policy allows for a significant reduction in mortgage rates for second homes, particularly in non-differentiated areas, where monthly payments can decrease by 439 yuan [1] - For a commercial loan of 2 million yuan over 30 years, the monthly payment for a first home is 8,486 yuan, while for a second home in differentiated areas it is 8,704 yuan, and in non-differentiated areas it is 8,925 yuan [1] Impact on Homebuyers - The reduction in mortgage payments under the new policy is expected to be more substantial compared to previous adjustments, which only resulted in minor decreases of a few dozen yuan [1] - The tangible benefits from the new policy are anticipated to be felt more significantly by homebuyers, enhancing their purchasing power [1]