Reporter Peng Yan

　　With the further optimization of the credit environment, mortgage interest rates in many domestic cities continued to decline in February.

The Shell Research Institute recently released data showing that under the dynamic adjustment mechanism of the first-home loan interest rate policy, the first-home mainstream home loan interest rate in Baicheng in February hit a new low since 2019.

The first-home loan interest rate in 23 cities decreased, and the number of cities with the first-home interest rate lower than the lower limit of the mortgage interest rate (4.1%) increased to 34 cities.

　　In an interview with a reporter from Securities Daily, Wang Qing, Chief Macro Analyst of Oriental Jincheng, said that the recent decline in mortgage interest rates is the result of the combined effect of policy guidance and market supply and demand.

The regulatory authorities set up a dynamic adjustment mechanism for the first-home loan interest rate policy, which further released a policy signal to encourage eligible cities to moderately lower the first-home loan interest rate.

The month-on-month decline in house prices narrowed slightly in January, and the real estate market in some cities has heated up.

However, since the beginning of the year, the sales data of new houses in 30 large and medium-sized cities has continued to be at a low level, and the phenomenon of early repayment of loans has begun to appear in various places.

　　Recently, interest rates for first-home loans have dropped significantly in many places.

According to the statistics of the Shell Research Institute, the average interest rate of the first set of mainstream interest rates in 100 cities in February was 4.04%, a month-on-month decrease of 6BP.

The average interest rate of second-home loans was 4.91%, which was flat from the previous month.

In addition, in February, the first and second home loan interest rates fell by 143BP and 84BP respectively year-on-year.

　　Specifically, the first-home loan interest rate in second-tier cities has dropped the most from the previous month.

In February, the first-tier cities had the highest housing loan interest rate, with an average of 4.6% for the first housing and 5.13% for the second housing, both unchanged from the previous month.

The average first-home loan interest rate in second-tier cities was 3.99%, a decrease of 8BP from the previous month; the average first-home loan interest rate in third- and fourth-tier cities was 4.04%, a decrease of 4BP from the previous month.

The second-tier interest rates in the second-tier and third-tier and fourth-tier cities were 4.91% and 4.9% respectively, both unchanged from the previous month.

　　Recently, the latest LPR quotation was released. 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 February at 4.3%.

　　Under the dynamic adjustment mechanism of the first housing loan interest rate policy, what changes have been made in the specific implementation of the housing loan interest rates of banks in various places?

　　According to the monitoring of the Shell Research Institute, among the 38 cities that met the conditions for dynamic adjustment of the first-home loan interest rate in February, the first-home loan interest rate in 17 cities including Shijiazhuang, Harbin, Changchun, and Fuzhou was adjusted back to within 4%.

A total of 23 of the 103 key cities monitored by the Shell Research Institute have lowered the first-home loan interest rate.

　　"Looking forward, in order to guide the real estate market to achieve a soft landing as soon as possible, in addition to strengthening supply-side support, it is also the key to continue to reduce the residential mortgage interest rate and promote the stabilization and recovery of the real estate market." Wang Qing said that the current residential mortgage interest rate is relatively high and has a certain degree of reduction. space.

In the first half of the year, the quotation of LPR with a period of more than 5 years may still be lowered by 0.1 percentage point to 0.15 percentage point.

This will lead to a greater reduction in the interest rate of newly issued residential mortgages, which in turn will help the property market to show a trend of recovery around the middle of the year.

　　The reporter learned that commercial banks had abundant credit at the beginning of the year, and their lending was also accelerating.

According to the monitoring data of the Shell Research Institute, the average loan cycle of Baicheng Bank in February was 28 days, which was 3 days shorter than the previous month.

　　Analysts at the Shell Research Institute said that a credit environment with low interest rates and fast lending will help reduce the cost of buying a house, speed up the process of buying a house, and help the recovery of the property market.