After the central bank and the China Banking and Insurance Regulatory Commission issued the notice on issues related to the adjustment of differentiated housing credit policies (hereinafter referred to as the notice), the interest rate of the first house loan in many places has been reduced.
On May 18, the reporter learned from the housing loan departments of many banks in Tianjin and Suzhou that the interest rate of the first set of housing loans of existing banks can be as low as 4.4%. The staff of branches of Bank of China, Agricultural Bank of China, China Construction Bank and China Merchants Bank in Tianjin told reporters that their first mortgage interest rate has been reduced by 20 BP, and users who meet the relevant qualification conditions can be implemented at 4.4%. In addition, the staff of some state-owned banks in Suzhou also told reporters that the interest rate of the first house loan fell to a minimum of 4.4%.
At the same time, the staff of many bank outlets in Shenzhen told reporters: “at present, we have not received the notice of interest rate adjustment of the first house”. Bank staff in Chengdu also told reporters that at present, the minimum interest rate of the first house loan can be as low as 4.6%, and 4.4% has not been notified.
The interest rate of the first house of several banks in Tianjin fell to 4.4%
Not long ago, the central bank and the China Banking and Insurance Regulatory Commission issued a “notice” pointing out that for households who borrow money to buy ordinary self owned houses, the lower limit of the interest rate of commercial individual housing loans for the first set of houses is adjusted to not less than the quoted interest rate in the loan market for the corresponding period by 20 basis points, and the lower limit of the interest rate policy of commercial individual housing loans for the second set of houses is implemented in accordance with the current provisions. The reporter noted that according to the current lpr4 with a period of more than 5 years 6% calculation, equivalent to the first set of ordinary self housing loan interest rate can be as low as 4.4%.
From the situation in Tianjin, the staff of many bank outlets told reporters that the interest rate of the first house loan had dropped to 4.4%.
Bank Of China Limited(601988) the staff of a branch in Tianjin told reporters by telephone that the interest rate of the first house loan has dropped to 4.4% since yesterday (May 17). “As long as it meets the requirements of our bank and there is no problem in credit investigation, we can get this interest rate, but ultimately it depends on whether the real estate cooperates with us.” The staff member said.
The staff of a branch of Agricultural Bank of China in Tianjin told reporters by telephone: “the interest rate of the first house loan is now 4.4%, which was just reduced last night (May 17), but it must be the first house. If you are married, take the family as the unit and if you are unmarried, take the individual as the unit.”
In addition, the reporter called a branch of China Construction Bank in the region. The staff told the reporter: “at present, the real estate cooperating with our branch is that the LPR is reduced by 20 points, and the minimum interest rate is 4.4%, but it must be the first house. Everyone’s situation is different, and the final interest rate is also different.”
China Merchants Bank Co.Ltd(600036) a staff member of a branch in Tianjin told reporters on the phone: “for the projects that have cooperation with our bank, the minimum interest rate for buying the first house is 4.4%. If there is no problem with income and credit investigation, you can basically get the interest rate of 4.4%
In addition, the staff of a real estate agency in Tianjin told reporters through wechat: “the first mortgage interest rate of most banks in Tianjin has basically dropped to 4.4%, compared with 4.9% previously.”
Some banks in Suzhou have implemented the interest rate of 4.4%
The reporter learned that the first mortgage interest rate of some state-owned banks in Suzhou fell to a minimum of 4.4%, up from 4.6%.
Agricultural Bank Of China Limited(601288) Suzhou Branch Customer manager told reporters on the phone that the bank’s first mortgage interest rate is 4.4%, and the specific situation depends on the specific real estate project.
China Construction Bank Corporation(601939) the account manager of a branch in Suzhou told reporters on the phone that the interest rate of 4.4% can be accepted now, but the loan still needs to be notified by others. In addition, the account manager said that at present, in Suzhou, if the loan has been paid off before, the interest rate of the second house can be implemented according to the interest rate of the first house, and if it has not been settled, it still needs to be implemented according to the minimum interest rate of 5.2% The staff of Bank Of China Limited(601988) and Industrial And Commercial Bank Of China Limited(601398) outlets said by telephone that they had not received the notice, and the interest rate of the first house was still 4.6%.
The staff of some state-owned banks and joint-stock banks in Shenzhen told reporters that at present, the individual mortgage interest rate has not been adjusted Industrial And Commercial Bank Of China Limited(601398) personal loan manager said on the phone that at present, the interest rate of the first house in Shenzhen is 4.9% and that of the second house is 5.2%, and the interest rate has not decreased China Merchants Bank Co.Ltd(600036) the personal loan manager of a sub branch in Shenzhen told reporters through wechat that the adjustment has not been notified yet.
In addition, the staff of a rural commercial bank in Chengdu told reporters on wechat that the bank’s first mortgage interest rate can be as low as 4.6%, and “the reduction to 4.4% has not been notified”.
Analyst: next, there is potential for further relaxation of real estate regulation
Why is the interest rate of the first house not adjusted synchronously? The reporter of the daily economic news noted that previously, the central bank and the China Banking and Insurance Regulatory Commission pointed out in the notice that on the basis of the national unified lower limit of loan interest rate, the dispatched offices of the people’s Bank of China and the China Banking and Insurance Regulatory Commission guided the self-discipline mechanism of market interest rate setting at the provincial level in accordance with the principle of “implementing policies according to the city”, and according to the changes in the real estate market situation of cities under their jurisdiction and the regulatory requirements of the urban government, Independently determine the lower limit of the interest rate of commercial individual housing loans for the first and second houses in each city under its jurisdiction.
Zou LAN, director of the financial market department of the central bank, once said that the regional characteristics of China’s real estate market are obvious. The determination of individual housing loan interest rate and down payment ratio follows the principle of implementing policies according to the city, and adopts the three-tier pricing mechanism of the whole country, the City and the bank.
Wang Qing, chief Macro Analyst of Dongfang Jincheng, believes that the reduction of the mortgage interest rate of the first house will drive the mortgage interest rate of some urban banks (including the interest rate of some second houses) to fall more significantly, so as to consolidate the overall downward trend of the national mortgage interest rate since the beginning of the year and accumulate kinetic energy for the stabilization and recovery of the real estate market in the middle of the year or later. According to the data disclosed by the central bank in the first quarter monetary policy implementation report, the average interest rate of new housing loans for residents in March was 5.49%, down 0.14 percentage points from December last year. This is the first downward inflection point of residential mortgage interest rate since the beginning of last year.
Wang Qing predicted that the lower limit of the mortgage interest rate of the first house will be lowered. Combined with the loosening of purchase restrictions in more cities, there is still potential for further relaxation of real estate regulation . This will drive the property market to gradually meet the conditions for stabilization and recovery in the middle of the year or later. This is also the key to stabilizing macroeconomic operation this year.
