China News Client, Beijing, April 20 (Reporter Li Jinlei) Mortgage owners are welcoming interest rate cuts. On April 20, the People's Bank of China authorized the National Interbank Interbank Center to announce that the loan market quoted interest rate (LPR) on April 20 was: 3.85% for 1-year LPR and 4.65% for LPR over 5 years.
Data map: Citizens pass by the People's Bank of China. China News Agency reporter Zhang Xinglong photo
Significant interest rate cuts, one-year LPR ushered in the biggest decline in reform
The data shows that, compared with the previous LPR, the one-year LPR decreased by 20 basis points; the LPR over 5 years decreased by 10 basis points.
Wen Bin, chief researcher of China Minsheng Bank, told reporters at Chinanews that the 20-point reduction in LPR is the largest rate cut since the LPR reform in August last year, which is conducive to further reducing the financing cost of the real economy.
Prior to this, the central bank has successively lowered the reverse repurchase and MLF (medium-term lending facility) interest rates by 20 basis points, which shows that the transmission mechanism from policy interest rates to loan market interest rates is smooth.
Asymmetric interest rate cuts, release signal to stabilize property market
This is an asymmetric interest rate cut, and the LPR over 5 years has only been reduced by 10 basis points. Zhang Dawei, chief analyst of Centaline Real Estate, told reporters from ChinaNews.com that this proves that don't expect large-scale bailouts. The financial policy orientation is to stabilize the property market and stimulate the real economy.
The Politburo meeting of the Central Committee of the Communist Party of China on April 17 clearly stated that it is necessary to insist on the positioning of houses for housing rather than speculation, and promote the stable and healthy development of the real estate market.
Wen Bin said that the meeting once again reiterated its adherence to the "housing, housing and no speculation" positioning. This time, LPR has only dropped by 10 basis points over 5 years, which reflects the continuity and stability of the real estate financial policy and is conducive to promoting the stable and healthy development of the real estate market. .
Data map: a bank staff counts the currency. China News Service reporter Zhang Yunshe
Good mortgage! RMB 60 million monthly mortgage savings
The LPR rate cut will bring benefits to the mortgage lenders, and the monthly payment will be reduced.
Zhang Dawei predicts that a 10 basis point reduction in interest rates for LPRs over 5 years will save 15 billion yuan in interest a year for all stock mortgage buyers in the country.
Specific to individuals, if the loan is 1 million yuan and the term is 30 years, the interest rate will be reduced by 10 basis points, which is equivalent to a monthly interest rate reduction of 60 yuan, a total savings of 21637 yuan.
Information figure: The house buyer looks at the sand table in the real estate and consults the sales staff. China News Service issued by Tang Yanjun
Interest rate cuts are expected, the property market may welcome "Xiaoyang Chun"
The Politburo meeting of the CPC Central Committee held on April 17 put forward that a sound monetary policy should be more flexible and appropriate, and use means such as RRR cuts, interest rate cuts, and re-loans to maintain reasonable and sufficient liquidity, guide the loan market interest rate down, and use funds to support The real economy, especially small and medium-sized enterprises.
Wen Bin said that in the next stage, there is still room and necessity for RRR cuts and interest rate cuts. On the premise of maintaining reasonable and sufficient liquidity, we will continue to guide both the loan market interest rate and corporate bond financing interest rate to decline, and effectively reduce the financing cost of the real economy.
Zhang Dawei believes that under the principle of "no housing, no speculation", interest rate cuts will help stabilize the real estate market. On the one hand, interest rate cuts will lead to a reduction in capital costs and a reduction in the cost of real home buyers ’purchases, which will help these groups enter the market. On the other hand, lowering will lead to lower bank lending costs.
"Under the situation where the epidemic is basically stable, the interest rate cut may cause the backlog of stock demand in the previous quarter to enter the market." Zhang Dawei said. On the whole, the market is very likely to have a certain strength of the property market "Xiaoyang Chun" from May to June. Although it will not enter the summer, the market activity will definitely increase significantly.
Zhang Dawei suggested that for home buyers, the interest rate cut on April 20 is just the beginning. If you want to buy a house recently, don't hesitate to hurry and go to see the house. (Finish)