Sino-Singapore Jingwei Client, October 20. According to the news on the official website of the Central Bank on the 20th, the People's Bank of China authorized the National Interbank Funding Center to announce the loan market rate (LPR) on October 20, 2020.
The 1-year LPR is 3.85%, and the 5-year or more LPR is 4.65%.
The above LPR is valid until the next LPR is issued.
Source: Screenshot of the official website of the central bank
So far, LPR has remained unchanged for 6 consecutive months.
On September 21, the People's Bank of China authorized the National Interbank Funding Center to announce that the market quoted interest rate (LPR) for loans on September 21, 2020 is: LPR 3.85% for 1 year and 4.65% for LPR over 5 years.
In response to the level of LPR interest rates, Sun Guofeng, Director of the Monetary Policy Department of the Central Bank, said at a press conference on financial statistics for the third quarter of 2020 that in recent months, as the epidemic has been effectively controlled, the domestic economy has recovered well. The central bank’s policy interest rate Both the LPR and the loan market quoted interest rate remained stable. The market interest rate revolved around the central bank's policy interest rate, and the interest rate level generally matched the current economic fundamentals.
According to the "Report on China's Housing Loan Market in October 2020", in October 2020, the average interest rate for first home loans nationwide was 5.24%, and the average interest rate for second home loans was 5.55%, both unchanged from the previous month.
Since the beginning of this year, the trend of "nine consecutive drops" in mortgage interest rates has ended.
(Zhongxin Jingwei APP)