Existing Mortgage Interest Rates Will Be Adjusted Next Week, And The Lowest Can Be Equal To LPR

On September 22, according to news from banks in Beijing, existing mortgage interest rates will be adjusted starting from September 25, and the lowest will be equal to LPR. The Beijing Branch of China Construction Bank stated that the adjustment level will be determined according to the following two time periods as follows: for loans issued before or on October 7, 2019, the minimum can be adjusted to the LPR of the corresponding period without adding points, except those lower; for loans issued after October 7, 2019, the minimum can be adjusted to LPR plus 55 basis points of the corresponding period. The adjustment scope covers first-time housing, conversion of second-time housing to first-time housing, and provident fund portfolio loans for commercial individual housing, excluding second home loans and provident fund loans.