Recently, there is news that the government is considering further lowering the interest rate on existing home loans, allowing up to 38 trillion yuan worth of existing home loans to seek refinancing in order to reduce the debt burden on home buyers and boost consumer spending. According to the relevant plan, existing mortgage customers can renegotiate loan terms with their current loan institution or refinance with other banks to convert to a mortgage loan. The supply and demand relationship in the real estate market has fundamentally changed. Some restrictive administrative measures may also need to be phased out. "It is possible to refinance or reduce existing mortgage rates." UBS Group's Head of Financial Industry Research in Greater China, Yan Meizhi, believes that we estimate the interest rate on existing home loans to be around 4.1%, but the interest rate on recently issued home loans in first-tier cities is less than 3%, which will lead to complaints from mortgage borrowers. At the same time, the government also hopes to encourage consumption, so there is a possibility of lowering the interest rate on existing home loans. (China Real Estate Newspaper)