In recent years, housing provident fund policies have been adjusted and optimized, and the interest rate of personal housing provident fund loans has been at the lowest level in history.
The housing provident fund system was first established in Shanghai in 1991, and was subsequently established and developed nationwide. In the 1990s, the interest rate of housing provident fund loans was as high as 8.1%. Before 2012, the interest rate of housing provident fund loans for more than five years fluctuated between 3.87% and 5.22% for a long time.
On June 8, 2012, the housing provident fund loan interest rate was lowered from 4.9% to 4.7%. Since then, the interest rates of commercial personal housing loans have fluctuated many times with the real estate market situation, while the interest rates of housing provident fund loans have been lowered multiple times for more than ten years. The housing provident fund interest rate has been lower than the commercial personal housing loan interest rate during the same period. After the interest rates of commercial personal housing loans were adjusted several times last year, the gap between them and housing provident fund loans was already very small.
Associate Professor of Finance, Guanghua School of Management, Peking University: The adjustment of the provident fund loan interest rate is higher than the 7-day reverse repurchase rate. The provident fund loan interest rate was lowered by 25 basis points, which also opened up the gap between the housing provident fund loan interest rate and the commercial mortgage interest rate.
