China News Service, Beijing, February 20th (Reporter Pang Wuji) China's loan market quoted interest rate (LPR) has been "standstill" for 10 consecutive months.
On the 20th, the People's Bank of China authorized the National Interbank Funding Center to announce a new phase of LPR: 1-year LPR is 3.85%, and LPR over 5 years is 4.65%, both unchanged from the previous month.
This is since May 2020, the LPR has not changed for 10 consecutive months.
Since the beginning of this year, news of tightening of mortgages has spread in many places, and mortgage lending time has been extended. For example, in Guangzhou and other places, mortgage interest rates have shown an upward trend.
A report released by the Shell Research Institute on the same day showed that the upward trend of mortgage interest rates continued in February. The average first home mortgage interest rate in the 52 monitored cities was 5.32%, and the second set of interest rates were 5.60%, which both increased by 3 basis points from the previous month. Expanded in the previous two months.
From the perspective of the loan cycle, the Shell Research Institute reported that the average loan loan cycle for 52 cities was 46 days, a slight decrease of 4 days from the previous month, but still higher than the level in December last year.
Before the Spring Festival, the central bank conducted several reverse repurchase operations to ease funding tensions, and the pace of bank mortgage lending improved slightly.
However, under the constraints of the new regulations on real estate loans and restraining market overheating regulation, mortgage interest rates continue to rise, and the lending cycle is still slow.
From the perspective of cities, there are more cities with rising mortgage interest rates.
The report shows that among the 52 cities, the number of cities with rising interest rates for the first home in February increased from 6 to 12, and the number of cities with rising interest rates for the second set increased from 6 to 15.
The mortgage interest rates in cities such as Zhengzhou, Foshan, Xi'an, Guangzhou and Huizhou have risen significantly. The first home mortgage interest rate increased by more than 10 basis points, and the second home mortgage interest rate increased by 15 basis points or more.
In early February, the mortgage data monitored by Rong360 Big Data Research Institute also showed that since late January, a number of first- and second-tier cities have begun to increase mortgage interest rates, bank quotas are tight, and lending time has been extended to 2-6 months.
Housing loan interest rates in Dongguan and Foshan also rose almost across the board, ranging from 10-35 basis points, with only a few banks maintaining their previous levels.
For example, the first home loan interest rate in Dongguan has risen from 5.05-5.25% to 5.35% or 5.45%, and the second home loan interest rate has risen from 5.35% or 5.45% to 5.65%.