Following the 1-year and 5-year LPR declines last month, the LPR remained unchanged in February, in line with market expectations.
However, many banks in Guangzhou have lowered their mortgage and home loan interest rates.
A survey by all-media reporters from Guangzhou Daily found that on February 21, the loan interest rates for the first and second homes of the workers and peasants in the Guangzhou area were both cut by 20BP compared with the pre-holiday period, and many banks also said they would follow up.
Not only that, Guangzhou's current mortgage loan amount is sufficient, and there is basically no need to wait in line.
Text / table Guangzhou Daily all-media reporter Lin Xiaoli Wang Chuhan
On February 21, ICBC, China Construction Bank, Agricultural Bank, and Bank of China all stated that from now on, the interest rate of their first home loan in Guangzhou will be reduced to LPR + 80BP (5.4%), and the second home loan interest rate will be reduced to LPR + 100BP (5.6%). .
The first two sets were both lowered by 20BP compared with those before the Spring Festival.
Assuming a 30-year mortgage of 2 million yuan, calculated by 20 BPs, the buyer can save about 250 yuan per month on the house payment, and the accumulated interest can be saved by about 90,000 yuan over 30 years.
Postal Savings Bank said that starting from February 22, the bank began to implement the newly adjusted mortgage loan interest rate in Guangzhou area. After the adjustment, the first home loan interest rate LPR+80BP (5.4%), the second home loan interest rate LPR+100BP5.6% ( 5.6%).
A number of joint-stock commercial banks have also followed suit to lower mortgage rates. Guangzhou Branch of China Guangfa Bank offers high-quality customers the lowest executable interest rates for the first and second homes, respectively LPR+80BP and LPR+100BP, which is about 10BP lower than the previous pricing. .
Hua Xia Bank Guangzhou Branch said that it began to reduce 20BP in early February; China CITIC Bank Guangzhou Branch said that the pricing was reduced by 20BP following the adjustment of the four major banks.
The reporter found that in the current Guangzhou market, HSBC's first and second home loan interest rates are relatively low, at 4.9% (LPR+30BP) and 5.4% (LPR+80BP).
Sufficient amount to apply for a mortgage without queuing
Not only has the mortgage interest rate dropped, many banks said that the loan amount is loose, and there is basically no queuing for lending.
Guangzhou Agricultural Bank said that the current quota is relatively sufficient, and there is basically no queuing for loans.
Guangzhou Industrial and Commercial Bank also stated that the bank's mortgage loan quota has been relaxed, and there is currently no backlog of businesses that meet the loan conditions.
At the same time, the bank will give priority to supporting the needs of "rigid needs" and first-time homebuyers.
The Guangzhou branch of joint-stock commercial banks such as Hua Xia Bank and Minsheng Bank stated that the current quota is sufficient, and the loan can be released when the loan conditions are met.
The Guangzhou branch of China Minsheng Bank said that the current lending time is generally 30 days.
Guangzhou Branch of China Guangfa Bank also stated that at present, the branch has sufficient mortgage and housing loan quota, and the loan can be arranged if the account information is complete, and the average loan time is within 1 month.
Reduced demand, banks slash prices to scramble for customers
The reporter noticed that on the afternoon of February 21, the real estate development sector moved up, and the Guangzhou real estate stock Zhujiang shares rose by the daily limit.
Zheng Dayuan, a senior mortgage loan expert in Guangzhou, said that since November last year, the mortgage interest rate in Guangzhou has entered a downward channel.
The previously rising mortgage interest rates have reversed, and the situation of hard-to-find loans has gradually eased.
By this year, there is basically no backlog of mortgage and home loan applications from banks, and the speed of lending has accelerated significantly.
"The reduction in mortgage loan interest rates will promote the improvement of the real estate industry's prosperity and help the real estate industry develop in a more stable direction. It is expected that there will still be room for a continued downward trend in mortgage loans in the future." Zheng Dayuan believes.
A relevant person from a bank told reporters that for banks, the current mortgage policy and quota have not changed, but the demand side has changed.
Against this background, various banks are also competing for customers by lowering mortgage interest rates.
A number of banks said that they adhere to the positioning of "housing and not speculating", and give priority to supporting the needs of "rigid needs" and first-time homebuyers.
The People's Bank of China recently released the "China Monetary Policy Implementation Report for the Fourth Quarter of 2021", stating that the next step will be to firmly adhere to the positioning that houses are for living, not for speculation, and insist not to use real estate as a short-term means of stimulating the economy , adhere to the stabilization of land prices, house prices, and expectations, implement the prudent management system for real estate finance, increase financial support for housing leasing, safeguard the legitimate rights and interests of housing consumers, better meet the reasonable housing needs of home buyers, and promote the healthy development of the real estate market. cycle.
Central Bank Trends
The LPR quotation in February was in line with market expectations
In addition, it is worth paying attention to the LPR quotation in February.
On February 21, the People's Bank of China authorized the National Interbank Funding Center to announce that the loan market quoted interest rate (LPR) on February 21, 2022 is: 1-year LPR is 3.7%, and LPR for more than 5 years is 4.6%. unchanged from January.
This is after the 1-year and 5-year LPRs fell last month, and the LPR remained unchanged in February, which was in line with market expectations.
Zhou Maohua, a macro researcher at the Financial Market Department of China Everbright Bank, pointed out that the central bank will continue to make MLF at par this month, and the market has already expected the LPR interest rate to remain stable this month.
The main reason is that the effect of the central bank’s RRR cuts and interest rate cuts continued to be released. The financial data in January showed strong performance, and the supply and demand of financing in the real economy were booming, indicating that finance continued to provide strong support for the recovery of the real economy, and the urgency to guide the further decline of credit interest rates in the short term is not high.
According to the public information of the People's Bank of China, on February 15, the People's Bank of China continued the operation of the medium-term loan facility (MLF) of 300 billion yuan, and the winning interest rate remained unchanged.
The LPR, which had remained unchanged for 19 consecutive months, was lowered in December last year and January this year.Keywords: