China News Service, Beijing, April 20 (Reporter Pang Wuji) The People's Bank of China authorized the National Interbank Funding Center on the 20th to announce the latest LPR (Loan Market Quote Rate).

Among them, the 1-year LPR was 3.7%, and the 5-year LPR was 4.6%, the same as the previous month.

  Regarding the reason for the flat LPR, Wen Bin, chief researcher of China Minsheng Bank, pointed out that on the one hand, on April 15, the central bank continued to do 10 billion yuan (RMB, the same below) 7-day reverse repurchase and 150 billion 1-year MLF. (Medium-Term Lending Facility), and the winning bid rates remained unchanged.

On the other hand, recent measures such as RRR cuts have not yet made the bank reach the minimum step size of 5 basis points of spread pressure reduction, and the LPR quotation remains unchanged.

  Although the LPR quotation has not changed, the financial industry continues to make reasonable profits to the real economy and reduce comprehensive financing costs.

Wen Bin pointed out that on April 15, the central bank issued a RRR cut announcement, which will help increase credit supply and increase financial supply in terms of "quantity".

At the same time, in March this year, the newly issued corporate loan interest rate was 4.37%, 8 basis points lower than that in December of the previous year, which helped the real economy in terms of "price".

  Mortgage rates are also falling further.

China's personal housing loan interest rate is based on the 5-year LPR as the pricing benchmark.

On the basis of the policy of not being lower than the lower limit stipulated by the state, the LPR addition level can be adjusted according to the actual situation in different places.

According to the central bank's previous disclosure, since March, banks in more than 100 cities have voluntarily lowered their mortgage interest rates, with an average rate ranging from 20 to 60 basis points, according to market changes and their own business conditions.

  According to the mainstream housing loan interest rate data in key cities released by the Shell Research Institute, the mainstream first-home mortgage interest rates in 103 key cities monitored by the Shell Research Institute in April were 5.17%, and the second set of mortgage rates were 5.45%, down 17 and 15 from the previous month, respectively. basis point; the average loan period this month was 29 days, 5 days shorter than the previous month.

  Xu Xiaole, chief market analyst at Shell Research Institute, pointed out that the current property market is still at the bottom and the recovery is weak.

In April, the ease of housing credit was further expanded, and the interest rates for the first and second homes hit a new monthly low since 2019.

That month, the mainstream interest rate for the first home in Suzhou and Nantong has dropped to 4.6%, which is the same as the LPR with a term of more than 5 years. The mainstream interest rate for the first home in other cities is also lower than 6%.

The pace of bank lending in April was also the fastest month since 2019.

  In the future, Xu Xiaole believes that housing credit is expected to be further loosened, which is conducive to market recovery.

It is expected that in the later period, more cities will reduce the ratio of commercial loan down payment and mortgage interest rates, and adjust the standard of "recognizing a house and subscribing to a loan".