Pan Gongsheng: Reduce the personal housing provident fund loan interest rate by 0.25 percentage points.

The Governor of the People's Bank of China, Pan Gongsheng, announced today at a press conference organized by the State Council Information Office that the interest rate for individual housing provident fund loans will be lowered by 0.25 percentage points. Specifically, the interest rate for first-time home buyers with a loan term of more than five years will be reduced from 2.85% to 2.6%, with rates for other terms adjusted accordingly. It is estimated that this adjustment will save residents over 20 billion yuan in interest payments each year, which will support the rigid housing demand of resident families and help stabilize the real estate market.