U.S. Stock Market Movement: Beike surges on September 29 due to residential mortgage subsidy policy

Beike September 29 Significant Increase Interpretation

Keyword: Resident Mortgage Subsidy Policy

On September 29, the Ministry of Finance, the People's Bank of China, and the National Administration of Financial Regulation jointly issued a notice, clarifying that starting from October 1, 2026, a resident home purchase loan interest subsidy policy will be implemented for a provisional period of one year. This marks the first time that the central government has provided interest subsidies for commercial personal housing loans.

The notice states that households meeting all of the following conditions will be eligible for subsidy support: firstly, using a newly issued commercial personal housing loan to purchase a first home, excluding existing loan replacements; secondly, the purchased property's construction area does not exceed 120 square meters; thirdly, the purchase price does not exceed 1.5 million yuan.

According to the notice, the maximum amount of subsidized loans can reach up to 1 million yuan. The fiscal department will provide an annualized interest subsidy of 1 percentage point, for a maximum period of five years.