With the reduction of LPR (quoted interest rate in the loan market), the reporter of Securities Daily learned that the interest rate of personal housing mortgage loans in Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou and other places has been adjusted accordingly. At the same time, some banks have reduced the floating base point, and the minimum interest rate of the first house has been reduced to 4.9%.
Zhang Dawei, chief analyst of Zhongyuan Real estate, said in an interview with the Securities Daily that not all mortgage customers can immediately enjoy the reduced interest rate. New housing loans can generally be calculated according to the latest LPR interest rate, and stock housing loans depend on the repricing date of home buyers.
multi land mortgage interest rate cut
As a buyer, the reporter of Securities Daily consulted multiple outlets of 11 banks in Beijing, including Industrial And Commercial Bank Of China Limited(601398) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) , China Construction Bank Corporation(601939) , Postal Savings Bank Of China Co.Ltd(601658) , China Merchants Bank Co.Ltd(600036) , China Minsheng Banking Corp.Ltd(600016) , Ping An Bank Co.Ltd(000001) , Shanghai Pudong Development Bank Co.Ltd(600000) , Bank Of Nanjing Co.Ltd(601009) , Bank Of Jiangsu Co.Ltd(600919) . The staff of the above bank outlets told reporters that at present, the loan interest rate of the first house has been reduced to 5.15%, and the loan interest rate of the second house has been reduced to 5.65%, which has been reduced by 5 basis points along with the LPR over 5 years, but the increase rate has not changed. Since the LPR reform in 2019, the first set of standards of 55 basis points and the second set of standards of 105 basis points on the basis of LPR have been implemented.
The reporter of Securities Daily called several bank branches in Shanghai and learned that at present, the loan interest rate of the first house of these banks has been reduced to less than 5%, 4.95%, and the loan interest rate of the second house is 5.65%. The mortgage interest rate decreased by 5 basis points with LPR, and the increase rate was not adjusted.
In fact, many banks have also lowered the housing loan increase part, but the increase interest rate part varies according to the real estate situation in various regions and the real estate loan strategies of various banks. For example, the differential pricing characteristics of housing loan interest rates in Guangzhou are more obvious. It is understood that after the LPR adjustment, the loan interest rate of the first house in Guangzhou is concentrated between 5.5% and 5.6%, and the loan interest rate of the second house is 5.8%. Among them, the housing loan will still refer to the customer qualification and real estate (new house) cooperation.
The personal loan manager of a branch of Shenzhen Branch of a joint-stock bank told reporters that at present, the lowest loan interest rate for the first house can be applied for 4.9%. In addition to the 5 basis points of LPR decline, the interest rate of adding points has also decreased by 15 basis points compared with the previous one.
The reporter of Securities Daily learned from several banks in Suzhou that at present, the loan interest rate of the first house of some banks has been reduced to 4.95%, and the loan interest rate of the second house has been reduced to less than 5.5%.
According to the mainstream mortgage interest rate data of key cities of Shell Research Institute, the first mortgage interest rate and the second mortgage interest rate of 103 key cities monitored in January 2022 were 5.56% and 5.84%, both down 8 basis points from the previous month. Among them, the mainstream mortgage interest rates in 59 cities decreased month on month, an increase of 19 over the previous month, and the mortgage interest rates in key cities such as Guangzhou, Shenzhen, Hangzhou, Nanjing and Suzhou decreased.
LPR adjustment affects geometry?
It is worth noting that the impact of LPR reduction over 5 years on new and existing loans is different. New housing loans can generally be calculated according to the latest LPR, which can enjoy the dividend of LPR reduction and reduce the purchase cost. However, the stock of housing loans depends on the repricing date of home buyers.
The personal loan manager of a large state-owned bank in Beijing told the reporter of Securities Daily that since January 2021, banks have concentrated on converting stock housing loans into LPR in batches. After being converted into LPR pricing mode, the mortgage will generally be adjusted once a year. As for the date of adjustment, the provisions of different banks are different. Some banks adjust on the date of contract signing, but most banks adjust from the first month of the new year. This means that in January 2023, many people's housing loans will usher in a new round of adjustment.
He further introduced: "for the house buyers who have borrowed, the stock house loans that have been repriced this year before January 20 need to be adjusted when repricing on January 1, 2023. However, for the new house buyers who have completed the loan after January 20, 2022, they will immediately enjoy good."
"The LPR reduction will have a positive impact on the real estate market and help boost the prosperity of the real estate market." Yan Yuejin, research director of the think tank center of E-House Research Institute, told the Securities Daily that from the perspective of real estate enterprises, the capital cost of medium and long-term loans will be further reduced, so as to encourage real estate enterprises to be willing to lend and dare to lend. From the perspective of home buyers, the further reduction of housing loan interest rate cost will further activate the reasonable housing consumption demand.
Xu Xiaole, chief market analyst of Shell Research Institute, told the Securities Daily that the tone of stable and loose monetary environment in 2022 was basically established. As the benchmark anchor of housing loan interest rate, the decline of LPR over 5 years represents the reduction of residents' housing mortgage loan cost, which helps to improve residents' purchasing power, release housing consumption and drive other living consumption at the same time. It is expected that the house purchase credit environment will remain relatively loose during the year, support the release of reasonable housing consumption demand, and drive the market volume and price to return to the center.
