Lowering interest rates for outstanding mortgage

On Tuesday, the central bank gave the real estate market a stimulus package, encouraging commercial banks to lower the interest rates of outstanding mortgage to closely mirror that of new houses. It is expected that the decline will be around 0.5 percentage point. This will bring tangible benefits for those whose mortgage interest rate is high. Analysts estimated that for those whose mortgage amounts to 1 million yuan in 30 years, they will save around 100,000 yuan in interest. From this, Talking Business finds that the ultimate goal of government policy is to solve people’s problems. This is also the true meaning of advancing comprehensive reform.