First corporate loans, now mortgages.

China’s central bank has unveiled new rules for how banks will set mortgage rates, with the aim of also making rates on homes loans more responsive to market forces.

Starting on Oct. 8, banks will begin setting the interest rates on new mortgages based on the newly revamped national loan prime rates (LPRs), a new reference for commercial banks to price loans that the central bank launched last week. The reference was designed to replace the People’s Bank of China’s (PBOC) official benchmark rates.

The national LPRs, which will be announced monthly, are created by taking an average of what 18 designated commercial banks quote for their LPRs — the rates they charge their most creditworthy borrowers — after discarding the lowest and the highest quotes.

Although policymakers have touted the reform’s goal of bringing down corporate borrowing costs, PBOC Deputy Governor Liu Guoqiang said at a press conference Tuesday that mortgage rates will remain stable under the new rate regime.

Read the full story on Caixin Global later today.

Related: Four Things to Know About How Loans Now Get Priced in China