It is reported that relevant parties are considering further lowering the interest rate of existing mortgages

August 30th news, this afternoon, the real estate sector soared, and real estate ETFs rose by more than 6%. There are market rumors that the relevant parties are considering further lowering the interest rate of the stock mortgage, allowing the stock mortgage of up to 38 trillion yuan to seek re-mortgage, in order to reduce the debt burden of residents and boost consumption. According to the relevant plan, the stock mortgage customers can renegotiate the mortgage interest rate with the bank, instead of waiting until January next year (the usual time for interest rate adjustment). In addition, residents can also transfer the existing mortgage loans directly to other banks and sign contracts at the latest interest rate, which will be the first time since the real estate crisis, this operation known as "re-mortgage" will be allowed. However, people familiar with the matter said it is unclear whether the new policy will apply to all housing. While falling mortgage rates will hurt the profitability of state-owned banks, they are now facing new pressure to contain a real estate-induced slowdown. So far, the rumors have not been officially confirmed, but market sentiment has made it very clear that such expectations are reflected.