The minimum interest rate of the first house loan can be reduced to 4.4%, which has taken the lead in many cities.
Recently, banks in Jinan, Tianjin, Zhengzhou, Qingdao, Suzhou and other places have reduced the first mortgage interest rate to 4.4%. The people's Bank of China and the China Banking and Insurance Regulatory Commission issued a notice on the 15th that for resident families who buy ordinary self owned houses with loans, the lower limit of the interest rate of commercial individual housing loans for the first set of houses shall be adjusted to not less than the quoted interest rate in the loan market of the corresponding period by 20 basis points.
The reporter learned that the recent adjustment of housing loan interest rate is more frequent, and there are not a few banks that implement the minimum interest rate according to the latest notice. Some banks have not yet lowered their interest rates, but the local financial management department is convening banks to study the issue of interest rates and will make adjustments in the future according to regulatory requirements.
many places reduced the loan interest rate of the first house
reporters learned that many banks in Jinan, Tianjin, Zhengzhou, Qingdao, Suzhou and other places have reduced the interest rate of the first house loan to 4.4% in accordance with the requirements of the notice
Recently, the mortgage interest rates of local banks have been adjusted more frequently. Some banks in Jinan have implemented the minimum interest rate of 4.4%. As early as April 26, the local bank of Jinan had reduced the interest rate of the first house loan to 4.6%,
Qilu Bank Co.Ltd(601665) told reporters: "it has just been studied and approved today. The minimum interest rate of the first house loan can be reduced to 4.4%, and that of the second house can be reduced to 5.2%."
It is not mandatory to reduce the first mortgage interest rate to 4.4%. The notice requires that all localities will independently determine the lower limit of the mortgage interest rate according to the actual situation in accordance with the principle of implementing policies according to the city.
The housing loan manager of a local bank in Sichuan said that at present, banks in cities and prefectures in Sichuan have successively implemented new policies, and their banks are also considering reducing interest rates.
"We are applying to lower the interest rate. The plan is to align the interest rate of the first house loan in Chengdu with the LPR quotation of more than five years, and other cities and prefectures will implement it in full accordance with the policies of the central bank." The mortgage manager said.
Some bankers said that the reduction of mortgage interest rate exceeded expectations. For banks, if the interest rate is implemented at 4.4%, the interest margin space is small, which needs to be comprehensively considered.
"Based on the current real estate market situation, the mortgage interest rate is expected to decline." Yan Yuejin, research director of the think tank center of E-House Research Institute, said that regions, provincial capitals and second tier cities with greater pressure on the property market have stronger motivation to reduce interest rates.
The reporter noted that there are certain additional conditions for the minimum interest rate implemented by some banks. For example, only for high-quality customers, high-level talents and civil servants, or require customers to buy a certain amount of financial products or insurance, and developers working with banks can enjoy the lowest interest rate.
more supporting measures should be introduced to stimulate the demand for house purchase
Since this year, policies to stabilize the property market have emerged one after another, and the mortgage interest rate fell for the first time in March.
according to Kerui statistics, since March, banks in more than 100 cities across the country have cut mortgage interest rates independently, with an average range of 20-60 basis points. According to the first quarter monetary policy implementation report of the central bank, the average interest rate of new housing loans for residents in March was 5.49%, down 0.14 percentage points from December last year
The reduction of housing loan interest rate has directly reduced the purchase cost of residents. It is estimated that taking 1 million yuan of housing loan and 30-year housing loan repaid with equal principal and interest as an example, the monthly supply can be saved by 60 yuan for every 10 basis points of reduction in housing loan interest rate, which will help boost the demand for house purchase.
However, the actual differentiation of commercial housing sales between cities has not been significantly improved. On May 18, the National Bureau of statistics released data that the sales price of commercial housing continued to decline year-on-year in April. Among the 70 large and medium-sized cities, the sales price of commercial housing decreased, the number of cities increased, and the sales price of commercial housing in the first, second and third tier cities showed an overall downward trend month on month and continued to decline year-on-year.
Yan Yuejin said that the reduction of mortgage interest rate provides a guarantee for the demand for house purchase, which will be combined with the existing real estate policies to form a comprehensive effect, which will help to reduce the transaction cost of real estate and play a positive role in boosting the market. All localities need to introduce more supporting measures to further release the demand for house purchase.
It is understood that 83 cities across the country have issued policies to stabilize the property market. The more common measures are to liberalize purchase and sale restrictions, reduce the proportion of down payment, raise the ceiling of provident fund loans, and encourage multi child families to buy houses.
According to Wang Qing, chief Macro Analyst of Dongfang Jincheng, the reduction of the first mortgage interest rate will drive the mortgage interest rate of some urban banks to fall sharply, which is expected to drive the property market to stabilize and recover gradually, which is also the key to stabilizing the macroeconomic operation this year.
