China News Service, October 12 (Zhongxin Finance reporter Zuo Yukun) In the last two days of September, many departments have successively released favorable policies for the first home loan interest rate and the first personal housing provident fund loan interest rate. Documents will be issued one after another from January 1st, followed by implementation.

　　In terms of provident fund loans, announcements of interest rate reduction policies have been made frequently in various places; in terms of commercial loans, many places have entered the level of the first home loan interest rate below 4.0%.

Data map: A residential building in Beijing.

Photo by Zuo Yukun of China-Singapore Finance and Economics

First-tier cities join the ranks of provident fund loan interest rate cuts

　　On the 10th, according to the Beijing housing provident fund hotline, the first-tier city Beijing lowered the loan interest rate of the first personal housing provident fund.

　　At present, the housing provident fund loan for the first home in Beijing has implemented the interest rate of 2.6% for less than 5 years (including 5 years), and the interest rate of 3.1% for more than 5 years.

In addition, the housing provident fund loan interest rate for the first home in the city-managed stock will be adjusted from January 1 next year.

　　This is also the result of implementing the decision and deployment of the People's Bank of China.

According to the notice issued by the central bank on September 30, starting from October 1, the interest rate of the first personal housing provident fund loan will be lowered by 0.15 percentage points, the interest rate of less than 5 years (including 5 years) will be adjusted to 2.6%, and the interest rate of more than 5 years will be adjusted to 3.1%. %.

　　According to rough statistics, as of now, Hangzhou, Nanjing, Shijiazhuang, Chengdu, Harbin, Hefei, Nanchang, Zhengzhou, Jiaxing, Huzhou, Ningbo, Dongguan, Wuxi, Nanning, Maanshan and many other cities have indicated that they will adjust the first set according to regulations. Personal housing provident fund loan interest rate.

　　Ms. Lin, a Changsha citizen who has applied for a provident fund loan and made a loan, deliberately turned over her contract at that time, and the contract was marked: "In case of adjustment of the provident fund loan benchmark interest rate announced by the People's Bank of China, the provident fund loan interest rate under this contract will be the next Corresponding adjustments will be made from January 1, 2019, and the borrower will not be notified separately.”

　　"Of course, this is good news. I calculated that starting from January next year, the provident fund can be reduced by dozens of yuan every month, and it can save 10,000 yuan in more than 20 years." Miss Lin said.

　　According to the specific calculation, if a provident fund loan of 1 million yuan and a term of 30 years is converted into a new interest rate, the total loan interest under the equal principal and interest loan method will be reduced by about 30,000 yuan, and the monthly repayment can be reduced by 82 yuan.

　　However, it is worth noting that this reduction in the provident fund loan interest rate is only for the first home.

Wang Xiaoqiang, chief analyst of Zhuge Housing Data Research Center, pointed out that this also reflects the support of the credit policy for rigid demand, and the sales side of the property market is expected to be further repaired.

　　Since the beginning of this year, the optimization and adjustment of the provident fund policy has become one of the important means to support the real estate market in various regions.

In addition to the direct interest rate reduction, there are also a reduction in the down payment ratio of the provident fund to buy a house, an increase in the loan amount, and the availability of immediate family members.

　　Chen Wenjing, market research director of the Index Division of the China Index Research Institute, said that in combination with previous relevant policies, the reduction of the provident fund loan interest rate this time will further strengthen the influence of the provident fund policy, thereby driving the gradual recovery of the real estate market.

Data map: Wuhan.

(UAV picture) Photo by Zheng Ziyan

The interest rate of the first home commercial loan in many places fell below 4%

　　The main reason behind the reduction of provident fund loan interest rates is actually the decline in commercial loan interest rates.

For a long time, the provident fund loan interest rate has often been adjusted synchronously with the commercial loan interest rate, maintaining a relatively stable interest spread.

　　Different from the fact that the interest rate of provident fund loans is basically unified across the country, the differences in the interest rates of commercial bank loans in various regions also allow local regulation and control to have a relatively greater "one city, one policy" independent space.

　　The People's Bank of China and the China Banking and Insurance Regulatory Commission issued a notice on the 29th, deciding to adjust the differentiated housing credit policy in stages.

Eligible city governments can decide on their own to maintain, lower or cancel the lower limit of the local new first-home loan interest rate by the end of 2022.

　　According to the latest LPR data, the minimum first-home loan interest rate previously implemented in various places is 4.1%.

After the announcement, the number of cities where the interest rate "breaks 4" has gradually increased. Jining, Qingyuan, Zhanjiang, Wuhan and other places have lowered the interest rate. For example, Qingyuan can achieve 3.7% interest rate, and Jiangmen, Yunfu, Zhanjiang and other places even canceled the interest rate. lower limit.

　　On the 7th, a property consultant in Wuhan advertised on the Moments that "the interest rate for the first home loan in Wuhan will be implemented at 3.9%".

Regarding the specific implementation, she said: There is no clear plan yet, but there are already docked banks in communication, and it seems that it will be implemented until the end of the year.

　　"The adjustment of first-home loan interest rates in many places fully implements the policy orientation before the National Day holiday, which is a reflection of the further reduction and relaxation of mortgage interest rates." Yan Yuejin, research director of the Think Tank Center of the E-House Research Institute, believes that this has a significant impact on the property market transactions in the fourth quarter. The boost is positive.

　　"It is expected that more cities will follow up in the future, and the reduction of mortgage interest rates will be more obvious." Zhang Bo, director of the branch of 58 Anju Room Real Estate Research Institute, believes that the cycle of this round of real estate market adjustment will be relatively long, especially in different cities. The pace of recovery is still quite different.

On the whole, the real estate market is still in the process of bottoming out in the fourth quarter of this year.

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