Our reporter Li Zheng

　　With the gradual adjustment of the credit policy, mortgage interest rates in many key cities in China continued to decline in November.

On November 21, the Shell Research Institute released data showing that the average first-home loan interest rate in 103 key cities monitored in November 2022 was 4.09%, and the average second-home loan interest rate was 4.91%, which were 165BP and 109BP lower than the highest point last year, a record high. record low.

　　At the same time, the latest LPR quotation was released, which serves as the "anchor" for the pricing of mortgage interest rates - the LPR (quoted loan market interest rate) with a period of more than 5 years remained unchanged in November, and the LPR for the period of 1 year was 3.65%, and the LPR for the period of more than 5 years was 3.65%. 4.3%.

　　Song Hongwei, research director of the Tongce Research Institute, said in an interview with a reporter from the Securities Daily that the main reason for the continuous decline in mortgage interest rates is that the recovery momentum of the real estate market is still weak, and the confidence of home buyers is insufficient. From the perspective of maintaining the healthy and stable development of the real estate market , Mortgage interest rates are gradually reduced, which will help reduce the cost of funds for home buyers and enhance home buying confidence.

　　According to the statistics of the Shell Research Institute, as of November 18, the mainstream interest rate of first-home loans in 18 cities within the monitoring area has dropped to "3 prefixes", including 6 cities in second-tier cities and 12 cities in third- and fourth-tier cities.

The mainstream interest rates for first-home loans in Quanzhou and Wenzhou, which fluctuated greatly, were lowered to 3.8%, a drop of 30BP.

Among the second-tier cities, Hangzhou has canceled the "recognition of housing and mortgage" since November 11. The first set of interest rates has dropped to 4.1%, and the second set of interest rates has dropped to 4.9%.

　　In terms of city lines, the first-tier cities have the highest mortgage interest rates, with an average of 4.60% for the first mortgage and 5.13% for the second mortgage, the same as last month.

In terms of interest rate cuts, the third- and fourth-tier cities saw the largest year-on-year decline in housing loan interest rates, with the first- and second-tier interest rates falling by 169BP and 112BP, respectively.

Based on the principal of a commercial loan of 1 million yuan for the first house, and 30 years of equal principal and interest repayment, the average monthly payment can be reduced by about 1,036 yuan, and the total interest to be repaid will be reduced by about 370,000 yuan; the year-on-year decrease in housing loan interest rates in first-tier cities is the smallest. The year-on-year declines of the first and second sets of interest rates were only 60BP and 52BP.

　　Yan Yuejin, Research Director of the Think Tank Center of E-House Research Institute, told the "Securities Daily" reporter that the current mortgage interest rates in many places have dropped to historical lows, which will have a greater impact on the market from the data point of view. For home buyers, a good The opportunity to buy a house has been formed, but because the market reaction is often relatively slow, it still needs to wait.

　　In addition, many people in the industry who were interviewed by the reporter of "Securities Daily" agreed with the view that there is still room for downward adjustment of mortgage interest rates in the future.

　　Song Hongwei said that from the perspective of the absolute level of home purchase interest rates, the current cost of home purchase is still relatively high. With the continuous decline of policy interest rates, especially the adjustment of deposit interest rates, it has laid the foundation for further easing of housing loans, so the housing loan interest rate has room for further decline. space and possibility.

　　Li Yujia, chief researcher at the Housing Policy Research Center of the Guangdong Provincial Institute of Urban Planning, believes that "mortgage interest rates still have room to be lowered, and they will not stabilize until the property market is basically stable and housing prices stop falling."

　　Yan Yuejin said that the lowest mortgage interest rate has dropped to 3.8%, and there is still room for further reduction in mortgage interest rates in some key cities, especially for second-home housing.

(Securities Daily)