With the reduction of LPR quotations for periods of more than 5 years, the mortgage interest rates of banks in various regions have been adjusted simultaneously.

  The first financial reporter learned that since January 21, most cities including Beijing, Shanghai, Guangzhou, Shenzhen and other places have adjusted the mortgage loan interest rate, and the newly issued loan will calculate the interest according to the adjusted interest rate.

Taking the Beijing area as an example, the mortgage interest rate of most banks is LPR+55 basis points, and the first and second homes have dropped from 5.2% and 5.7% to 5.15% and 5.65% respectively. The annual loan repayment for every 1 million yuan of loans is expected to decrease by about 360 yuan. , but it cannot be reflected immediately for some existing loans.

  It is worth noting that, in addition to the synchronous decline in mortgage interest rates driven by the LPR correction, banks in some regions continued to increase the easing of mortgage loans. Previously, the interest rate of major banks in Suzhou fell below 5%, and recently, large banks in Chongqing synchronously lowered the floating base point. , the first home mortgage can be as low as 5.5%.

Institutional analysis shows that the lowering of the LPR quotation for a period of more than 5 years this time has released a more obvious signal of easing credit, which plays an important role in meeting the rigid demand for housing and improving the confidence of home buyers, but further adjustments may depend on city-specific policies.

Mortgage interest rates will be lowered from now

on,

and the impact of new and existing loans will be different

  On January 20, the National Interbank Funding Center authorized by the People's Bank of China announced that the 1-year LPR was 3.7%, which was lowered by 10 basis points after a 5 basis point correction in December last year; the LPR for more than 5 years was 4.6%, which is higher than that of the 5-year LPR. It pulled back 5 basis points last month, the first decline since April 2020.

  LPR is the loan market quoted interest rate, which is quoted by 18 representative quoting banks according to the loan interest rate of the Bank to the highest quality customers, and the open market operation interest rate (mainly refers to the medium-term lending facility interest rate) plus points (MLE + points) The National Interbank Funding Center authorized by the People's Bank of China calculates and publishes the basic loan reference interest rate after excluding the highest and lowest prices.

As the anchor of various loan interest rates (LPR+ points) of banks, the adjustment of LPR has a wide range of effects. Among them, the liquidity loans issued by financial institutions for enterprises refer to the 1-year LPR; Investment loans, personal housing loans, etc. refer to the 5-year LPR.

  "Yesterday (January 20), it was adjusted simultaneously. If you lend out today, you will be based on the latest interest rate, 5.15% for the first set and 5.65% for the second set." According to the personal loan manager of a branch of China Construction Bank in Beijing, the bank is currently adding points in Beijing. There was no change, with the overall rate cut in line with the LPR by 5 basis points.

However, the new loan interest rate is based on the interest rate on the loan day, and the specific interest rate level depends on the loan time.

According to the latest news from the central bank, the release time of LPR has been adjusted from 9:30 am on the 20th of each month to 9:15 am, and borrowers need to pay attention to the LPR quotation closest to the loan date.

Before this adjustment, the LPR had remained at 4.65% for 21 consecutive months.

  It should also be noted that the impact of LPR reduction on new loans and existing loans is quite different.

Among them, the new loan interest rate can be calculated as "4.6% + points" before the next announcement of LPR. Under the condition that the number of points added remains unchanged, each 1 million yuan of loans will be repaid about 360 yuan less than before.

However, the existing loans are calculated based on the re-pricing date. Generally, there are two situations: if the re-pricing date is January 1 of each year, the current repayment is still based on the interest rate anchored last year. Whether to adjust it depends on the latest update on December 20 each year. LPR quotation; if it is "year-to-month-to-day pricing method", the interest rate will be adjusted according to the corresponding date of the loan date each year.

  The first financial reporter learned from banks and intermediaries that at present, the mortgage interest rates of banks in Shanghai, Shenzhen and other places are adjusted simultaneously on the 20th, and the latest quotations can be referred to for loans on the 21st. The minimum housing price can be 4.9% and 5.2% respectively, and the mainstream loan interest rate for the first housing in Shanghai has also dropped to below 5%.

However, a staff member of the local branch of a major bank in Foshan said that although the LPR has been adjusted back, it does not mean that the borrower's interest rate will definitely be lowered. The added points will still refer to the customer's qualifications and real estate (new house) cooperation. The current lowest interest rate can reach 5.6%.

The "

LPR +

point" double-drop mode has been activated in many places

, and the

sales side has recovered

  Entering 2022, the downward trend of mortgage interest rates is obvious, and Duocheng will reduce mortgage costs according to customer qualifications.

According to the data of the Shell Research Institute, among the mainstream loan interest rates in the key 50 cities in January 2022 before LPR adjustment, Tianjin and Xiamen are the few second-tier cities where the first-home mortgage interest rate "breaks 5".

According to the first financial reporter, a large bank in Suzhou has also taken the initiative to adjust the floating base point recently, and the minimum interest rate for the first home can reach 4.9%.

  At the same time as the LPR callback, some cities synchronously lowered the floating base point.

Taking Chongqing as an example, the personal loan manager of a large bank said that his sub-branch just announced the latest mortgage interest rate today (January 21), and the number of points added for the first home was lowered to 90 points. The mainstream rate of 5.75% fell by 25 basis points.

  Some institutions pointed out that the decline of the 5-year LPR is lower than the decline of the MLF interest rate. On the one hand, it is determined by the LPR quotation method. It is still the policy direction, and there is still room for adjustment in some areas.

Lin Yuanyuan, an analyst at Bank of China Securities, also analyzed that the impact of the 5-year LPR quotation reduction on mortgages in 2022 is mainly reflected in the newly issued and selected mortgage loans that are priced on the loan date.

Against this background, Zhang Ge, a researcher at CITIC Futures, believes that the reduction of mortgage interest rates in the next few months may be realized mainly through the adjustment and addition of points based on city-specific policies.

  In terms of loan time, the amount at the beginning of the year was relatively sufficient, the loan loan time in various places continued to accelerate, and the loan time in many places was shortened to 1-2 months.

According to a reporter from China Business News, it takes about 2 months for large banks in Beijing to follow the normal process, and 1-2 weeks after the mortgage is completed; Foshan and other places can complete the process from approval to loan in about 1 month; the banks in Guangzhou are quite different, and the time varies from 1-3 months.

  Under the background of loose policy margins, there have been signs of recovery in second-hand housing sales in many places. A person from a large intermediary agency in Beijing revealed that the sales performance of stores has basically returned to the level in the first half of last year.

In terms of prices, according to the latest changes in the sales prices of commercial housing in 70 large and medium-sized cities in December 2021 released by the National Bureau of Statistics, the number of cities where the price of new houses and second-hand houses has dropped month-on-month has decreased, and the sales prices of first- and second-tier commercial housing have decreased month-on-month. , releasing a certain positive signal.