China News Agency, Beijing, June 21 (Reporter Pang Wuji) China's loan market quoted interest rate (LPR) has not been adjusted for 14 consecutive months.
On the 21st, the People's Bank of China authorized the National Interbank Funding Center to announce the latest phase of LPR.
Among them, the 1-year LPR is 3.85%, and the 5-year or more LPR is 4.65%. Since then, the LPR has been "standstill" for 14 consecutive months.
However, since the beginning of this year, mortgage interest rates in key cities have continued to rise.
According to the data on mainstream mortgage interest rates in key cities released by the Shell Research Institute on the same day, in the 72 cities monitored in June, the interest rate of the mainstream first home mortgage was 5.52%, and the second set of interest rates was 5.77%, which were 5 and 4 basis points higher than that in May.
The average lending cycle for housing loans in 72 cities in June was 50 days, which was 2 days longer than the previous month.
In the second quarter of this year, the tightening of the housing loan environment has increased.
According to the agency's statistics, in the second quarter, the first and second home loan interest rates in 72 cities rose by 17 and 15 basis points respectively, and the rate of increase was more than that in the first quarter.
The current first and second set of interest rates are only 7 and 14 basis points from the November 2019 highs.
Xu Xiaole, chief market analyst at Shell Research Institute, believes that under the management of real estate loan concentration, housing loans reached a record high in the first quarter. Affected by this, bank loan quotas in the second quarter were limited and the credit environment for housing purchases was tightened.
Since the second quarter, mortgage interest rates in most cities have continued to rise, and banks have queued up for second-hand mortgage business and extended the lending cycle. In particular, some banks in cities such as Hefei and Nanjing stopped handling second-hand mortgage loans due to limited loan quotas in May.
Affected by this, the activity of the second-hand housing market has decreased. After April, the transaction volume in key cities has recovered from a high level, and the increase in housing prices has narrowed.
In June, among the 72 key cities, 40% of the city's mortgage interest rates rose. Among them, the Yangtze River Delta region's mortgage interest rate increased by a large margin.
In the same month, the interest rates for the first and second sets of housing purchases in the Yangtze River Delta region increased by 11 and 10 basis points respectively.
Among them, the first and second home loan interest rates in Suzhou were raised by 65 and 50 basis points respectively from last month, ranking first among all cities, and the first and second home loan interest rates in Shaoxing and Hangzhou increased by 30 basis points.
Looking ahead, Xu Xiaole pointed out that international inflation expectations continue to exist, and the effect of the continuous increase in raw material prices may be transmitted to the consumer side in the second half of the year, increasing domestic inflationary pressures in the second half of the year.
In this context, the policy of "money stabilization and tight credit" will continue, especially for the tight credit of the real estate market. It is expected that China's housing credit will continue to tighten in the second half of the year, and the volume of the second-hand housing market will fall steadily.