After the Spring Festival, the number of cities that lowered the lower limit of the interest rate on the first housing loan continued to increase, and most of the relevant cities were provincial capitals and new first-tier cities. Recently, the reporter of Securities Daily learned from many banks in Fuzhou, Zhengzhou and Tianjin that the lower limit of the interest rate of the first housing loan has been lowered in the above-mentioned cities, and some cities have lowered it to 3.7%. Wang Qing, the research and development department of the Oriental Jincheng, told the Securities Daily that in the first quarter of this year and the first half of this year, more eligible cities will lower the lower limit of the interest rate of the first housing loan, which will save energy for promoting the stabilization and recovery of the property market. Under the dynamic adjustment mechanism of the first housing loan interest rate policy, the number of cities that have lowered the lower limit of the first housing loan interest rate has increased in recent days. For example, the personal loan manager of a major state-owned bank in Zhuhai told the Securities Daily that the official notice had been received that the minimum interest rate of the first house loan could be 3.7%. A staff member of a branch of a bank in Xiamen said, "The interest rate of the first home loan has been reduced from 4.1% to 3.8% after receiving the notice of reduction in recent days." In addition, both Shenyang and Zhengzhou have reduced the interest rate of the first home loan. The reporter learned from many banks in Shenyang that from February 1 to April 1, the interest rate of the first housing loan of most banks in Shenyang will be reduced to 3.9%, and some banks have implemented it in advance. The staff of several banks in Zhengzhou told the Securities Daily that "the news of interest rate adjustment has been received recently. After the adjustment, the interest rate of the first housing loan (commercial loan) has dropped from 4.1% to 3.8%, but some banks are still waiting for the formal implementation notice." Before this Spring Festival, there were Tangshan, Taiyuan, Lishui, Jiujiang, and Zhuhai, Jiangmen, Zhaoqing, Zhongshan, Huizhou, Zhanjiang, Shaoguan Yunfu and other cities have successively lowered the interest rate of the first housing loan. According to the incomplete statistics of China Index Research Institute, there are nearly 20 cities that will adjust the lower limit of interest rate in 2023, including Zhengzhou, Tianjin, Fuzhou, Shenyang, Xiamen, etc. On January 5, the Central Bank and the Banking and Insurance Regulatory Commission issued a notice on the establishment of a long-term mechanism for dynamic adjustment of the interest rate policy for the first housing loan. According to the notice, cities where the sales price of new commercial residential buildings has declined for three consecutive months on a month-on-month basis and year-on-year basis can maintain, reduce or cancel the lower limit of the local interest rate policy for the first housing loan in a phased manner. It is worth noting that the cities that have implemented the dynamic adjustment mechanism of the first housing loan interest rate policy before are mainly concentrated in the third and fourth tier cities. This time, Zhuhai, Xiamen, Shenyang, Fuzhou, Zhengzhou and other cities have also started dynamic adjustment of the first housing loan interest rate. Wang Qing told reporters that the cities with the dynamic adjustment of the interest rate of the first set of housing loans have expanded from the third and fourth tier to some second-tier and new first-tier cities, indicating that more high-energy cities hope to boost the real estate market from the demand side. The housing loan interest rate policy has been optimized for many times in the past six months, and the first housing loan interest rate policy has been adjusted and optimized for many times. In May 2022, the People's Bank of China and the China Banking and Insurance Regulatory Commission jointly issued a document saying that the lower limit of the interest rate of individual housing loans should be adjusted to be no less than the market quoted interest rate of the corresponding term loans minus 20 basis points for families who purchase the first house with loans. In September 2022, the People's Bank of China and the China Banking and Insurance Regulatory Commission issued a notice to gradually relax the first housing in some cities