China News Agency, Beijing, December 20th (Reporter Pang Wuji) On the 20th, the People's Bank of China authorized the National Interbank Funding Center to announce the latest loan market quotation rate (LPR): 1-year LPR is 3.65%, and the 5-year period is over The LPR was 4.3%, both unchanged from the previous month.

The LPR has remained unchanged for four consecutive months.

　　Pang Ming, Chief Economist and Research Director of Jones Lang LaSalle Greater China, told a reporter from China News Agency that the LPR on hold on that day is most likely to coincide with the re-pricing date for most residents' mortgages (January 1st each year), and at the same time as The December mid-term lending facility (MLF) rate, which is the basis for LPR quotes, was unchanged.

But in general, the probability of a decline in residential mortgage interest rates is relatively high in 2023, especially in the first half of 2023.

　　Pang Ming believes that it is still necessary to lower the LPR, especially the LPR that lowers the mortgage interest rate reference for a period of more than five years.

In this way, the interest rate of incremental and stock mortgages and the cost of buying houses can be gradually reduced, meeting the needs of residents for rigid and improved mortgage loans, improving residents' willingness and ability to buy houses, promoting sales in the real estate market, and promoting a trend recovery in the property market as soon as possible.

In addition, the deposit rate has recently entered a new round of downward trend, which also helped to lower the motivation for LPR quotations.

　　Since the beginning of this year, China's LPR with a period of more than 5 years has been reduced by 35 basis points.

　　Li Yujia, chief researcher at the Housing Policy Research Center of the Guangdong Provincial Institute of Urban Planning, said that since the beginning of this year, mortgage rates have dropped significantly.

Up to now, the first set of interest rates and the second set of interest rates have fallen by 165 and 109 basis points respectively from the highest point last year, hitting a record low.

According to data from the Shell Research Institute, the mainstream interest rate for first-home loans in 18 cities has dropped below 4%.

However, commercial housing sales did not rebound significantly.

　　Li Yujia believes that the current top priority for stabilizing the property market is to boost residents' income and market confidence.

He suggested that interest rates be lowered for existing mortgages to reduce the repayment burden of residents and release demand.

From 2017 to 2021, when the commercial housing market is running at a high level, the mortgage rate for many people to buy a house is around 5%.

Reducing the interest rate of this part of the mortgage can also activate the living consumption needs of residents and stimulate domestic demand.

(use up)