On February 21, some media reported that they learned from a number of real estate agents that the four major banks lowered the mortgage interest rate in Guangzhou at the same time. In this regard, the reporter of Securities Daily called a number of banks in Guangzhou to confirm whether the news is true. According to the reporter, from today on, some state-owned banks have officially lowered the housing loan interest rate in Guangzhou. Among the four major banks, some banks have begun to “sell” to reduce mortgage interest rates in early February.
Affected by this, the real estate development sector rose in the afternoon of February 21. Guangzhou real estate stocks Guangzhou Pearl River Industrial Development Co.Ltd(600684) pulled the board in a straight line, Tahoe Group Co.Ltd(000732) pulled the board in the same straight line, Black Peony (Group) Co.Ltd(600510) bid up in the morning, and Grandjoy Holdings Group Co.Ltd(000031) , Langold Real Estate Co.Ltd(002305) followed.
some banks in Guangzhou cut mortgage interest rates
The reporter of Securities Daily learned from some banks in Guangzhou that since February 21, large state-owned banks have officially lowered the mortgage interest rate in Guangzhou. Among them, the interest rate of the first house loan was reduced from LPR + 100bp (5.6%) to LPR + 80bp (5.4%), and the interest rate of the second house loan was reduced from LPR + 120bp (5.8%) to LPR + 100bp (5.6%). According to the reporter, up to now, the four major banks have reduced the mortgage interest rate.
The staff of the personal loan department of a Guangzhou Branch of Agricultural Bank of China told reporters that now the bank’s policy is to add 80bp for the first set and 100bp for the second-hand base point From February 21, the first set of second-hand houses fell to 5.4% and the second set to 5.6%. The interest rate of first-hand house mortgage has not changed.
Industrial And Commercial Bank Of China Limited(601398) the credit manager of a branch in Guangzhou told the reporter of Securities Daily that the interest rate of second-hand housing loans has been reduced since February 10. At present, the interest rate of the first set of housing loans is 5.4% and that of the second set of housing loans is 5.6%. The first-hand houses will also be reduced normally, but the specific situation depends on the signed sub branches. In addition, due to the sufficient amount, the whole process of loan is between 2 weeks and 1 month.
BOC officials said that on Friday, the bank had received a notice that both the first and second homes, whether new or second-hand, were lowered. At present, the first home loan interest rate is 5.4% and the second home loan interest rate is 5.6%.
The reporter of Securities Daily learned from the major commercial banks in Guangzhou that in fact, in January, the loan interest rates of the first and second houses of most banks have been reduced.
In the view of insiders, the reduction of housing loan interest rate in Guangzhou is related to the abundant quota of banks, and the abundant quota is related to the recent significant decline in real estate trading volume.
Yan Yuejin, research director of the think tank center of E-House Research Institute, told the reporter of Securities Daily that since the real estate market has not returned to normal prosperity, there will be room for further reduction in the follow-up. The reduction of mortgage interest rate and the adjustment of down payment ratio in some cities have objectively created a more relaxed environment for the mortgage market.
The reporter learned from a number of Guangzhou banks that since the beginning of this year, the bank’s housing loan quota has been abundant, and the real estate transaction is relatively light. There is still room for continuous downward housing loan for some time in the future.
Yan Yuejin also said that the interest rate reduction of some banks in Guangzhou is related to the policy, which fully shows that the policy in the current real estate market is further relaxed. First of all, affected by policies such as the reduction of reserve requirements and interest rates, the housing loan market is generally guided by continuous easing. Banks have the power to issue funds for cheaper loans, which can objectively activate more people to apply for housing loans. Secondly, the continuous favorable policies in February will continue to reverse the decadent trend of real estate and help the market transactions to be active. Moreover, the housing loan interest rate policy in cities like Guangzhou objectively has positive enlightening significance for other cities in the country and helps to play a positive exemplary role in the follow-up policies of other cities. Finally, the current real estate market is at the end since the cooling down in the second half of last year. This year will show a “√” trend, that is, it continues to enter the stage of market bottoming, bottoming and bottoming, and then there is a very good foundation for bottom rebound and gradual recovery.
This year’s central economic work conference set the tone for the development of the real estate market – “support the commercial housing market to better meet the reasonable housing needs of buyers, and implement policies to promote the virtuous circle and healthy development of the real estate industry.” In addition, this year’s Guangdong government work report also clearly proposed to better meet the reasonable housing needs of home buyers.
In fact, mortgage interest rates in many cities have shown a downward trend recently. According to the data of the shell Research Institute, in January 2022, the interest rates of the first set of housing loans and the second set of housing loans in the mainstream of 103 key cities monitored were 5.56% and 5.84%, both of which were 8 basis points lower than that of the previous month; In addition, in January, among the 103 cities under its key monitoring, the mainstream mortgage interest rates in 59 cities decreased month on month, an increase of 19 cities over the previous month, and the mortgage interest rates in key cities such as Guangzhou, Shenzhen, Hangzhou, Nanjing and Suzhou all decreased. In terms of loan cycle, the loan cycle of 64 cities was shorter than that of the previous month, that of Guangzhou was shorter than that of the previous month by more than 40 days, and that of second tier cities such as Hefei, Wuhan, Hangzhou, Nanjing, Xiamen and Chengdu was shorter than that of the previous month by more than 20 days.
Zhang Dawei, chief analyst of Zhongyuan Real estate, told the Securities Daily that the real estate policy has bottomed out. After the credit easing, the market will certainly improve significantly, and the mortgage interest rates in other cities will also be reduced.
real estate stocks soared
Affected by this, the real estate development sector rose in the afternoon of February 21. Guangzhou real estate stocks Guangzhou Pearl River Industrial Development Co.Ltd(600684) pulled the board in a straight line, Tahoe Group Co.Ltd(000732) pulled the board in the same straight line, Black Peony (Group) Co.Ltd(600510) bid up in the morning, and Grandjoy Holdings Group Co.Ltd(000031) , Langold Real Estate Co.Ltd(002305) followed.
“Real estate stocks rose due to changes, and some real estate enterprises’ stocks rose or followed the limit. This time, real estate stocks have attracted the attention of the industry, which is related to the past performance of real estate stocks and real estate policies.” Yan Yuejin said that first, real estate stocks have been relatively depressed due to the previous debt problem, so the rise of the market has a positive effect on such undervalued real estate stocks. Second, the rise of real estate stocks is fully logically supported, that is, with the adjustment of various favorable policies, especially the down payment ratio policy, there is hope for the subsequent improvement of the sales performance of real estate enterprises, so the fundamentals are bound to be improved. Third, many industries will be boosted rapidly by the development of the real estate industry, similar to the steel industry, so the rise of real estate stocks will objectively bring a positive effect on some other related industries.
For the follow-up view of the real estate sector, Tianfeng Securities Co.Ltd(601162) pointed out that under the macro background of “stable growth”, the fundamentals of the real estate industry continue to stay at the bottom and the marginal improvement policies continue. It is expected that there are still many favorable policies to be expected in the follow-up, and continue to be optimistic about the market performance of the real estate sector.
Citic Securities Company Limited(600030) said that the mortgage loan amount and interest rate are key variables, and the demand side support policy at the local level is expected to continue to be introduced. It is expected that after March, the real estate boom is expected to bottom out and pick up, while the structural evolution trend will continue. Continue to recommend medium and high credit real estate enterprises.
Sinolink Securities Co.Ltd(600109) believes that the attitude of the financial sector towards real estate has been very positive. There has been positive feedback on mortgages, M & A loans and affordable rental housing loans. With the lifting of the liquidity crisis of real estate enterprises, the focus of market attention is expected to gradually switch from steady state-owned enterprises to highly flexible private enterprises.
