China News Service, Beijing, September 22 (Reporter Pang Wuji) China's loan market quoted interest rate (LPR) has not been adjusted for 17 consecutive months.

  On the 22nd, 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 17 consecutive months.

  Although the overall interest rate level has remained stable, the property market-related loans that are under the "tightening curse" of regulation are hardly loose.

According to recent research data released by the Crane Research Center, in September 2021, the national average mortgage interest rate for first homes was 5.46%, up 23 basis points from the end of 2020, and the average interest rate for second home loans was 5.83%, up 29 basis points from the end of 2020.

  According to the research conducted by the Crane Research Center, the recent first home loan interest rate in cities such as Suzhou, Quzhou, Taicang, Xinyang, Zhumadian, Nanning, and Guilin has reached more than 6%.

Among the 30 cities under investigation, mortgage interest rates in more than 70% of the cities have increased to varying degrees from the first half of 2021.

  Take Suzhou as an example. At the end of May and the beginning of June this year, some banks’ mortgage interest rates have risen by 50 basis points. Recently, housing loan interest rates have increased again by 40-50 basis points. At present, most banks’ first home loan interest rates are between 6.0% and 6.1%. Suites are at 6.4-6.5%, a significant increase.

  The mortgage lending cycle has also lengthened. In many cities in China, bank lending needs to wait 3-6 months.

Before that, Beijing, where mortgage loans were relatively loose, also experienced extended lending time.

A real estate agent told a reporter from China News Agency that in the past, commercial loan loans were generally issued within 7 working days. Now that it has started in two months, the pace of property market transactions has also slowed down significantly.

  The research results of the Crane Research Center show that the lending cycle in Linyi, Jining, Heze and other cities is as high as six months or more, and some cities such as Suzhou, Taizhou, Yancheng and other credit terminals have fully tightened, and the lending time is uncertain.

In addition, the overall review of housing loans is also stricter. Nanning, Taizhou, Lishui and other places need to strictly review the qualifications of home buyers, including the source of down payment funds, personal repayment ability and many other content.

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