Some banks in Shanghai quickly cut their mortgage rates to 3.4%.

On July 23rd, the reporter learned that some banks in Shanghai have begun to cut mortgage interest rates, with the first home loan interest rate falling to 3.4% and the second home loan interest rate as low as 3.6%. "Now the latest mortgage interest rate has been implemented, and the first home loan interest rate is 3.4%; for the second home, the urban mortgage interest rate is 3.8%, and the free trade zone Lingang New Area, Jiading, Qingpu, Songjiang, Fengxian, Baoshan and Jinshan areas The mortgage interest rate is 3.6%." On July 23rd, a person from the Personal Loan Center of a branch of Industrial and Commercial Bank of China in Shanghai told reporters. Banks adjust mortgage interest rates, mainly affected by the decline in LPR. On July 22, the loan market quotation rate (LPR) ushered in another reduction, the 1-year LPR was 3.35%, and the 5-year LPR was 3.85%, both down 10 basis points from the previous month.