Peng Yan, reporter of this newspaper

Although the LPR has remained unchanged for seven consecutive months, under the dynamic adjustment mechanism of the first home loan interest rate policy, the first home loan interest rate in many places has significantly retreated. According to the statistics of the China Index Research Institute, 7 cities have entered the "35 era" of mortgage interest rates.

The reporter of "Securities Daily" interviewed banks and real estate agencies in many places and learned that "sufficient loan balance and fast lending speed" is a common situation at present. A bank personal loan manager told reporters that after the house is completed, it is usually possible to release money in two to three days. Some bank staff even said that after the double certificate (real estate certificate and mortgage certificate) were completed, the loan would be released immediately.

Multi-city first home loan interest rate cut

Since the beginning of the year, many have lowered the interest rate of the first home loan. For example, Hengshui City has lowered the lower limit of the interest rate for commercial personal housing loans for the first home to 3.3% since March this year. According to the latest monitoring data of the China Index Research Institute, since the beginning of this year, 8 cities such as Xiamen, Shijiazhuang and Shenyang have adjusted the lower limit of the first home loan interest rate to less than 35%.

A staff member of a state-owned bank in Hengshui City told the "Securities Daily" reporter that recently, the first home loan interest rate of second-hand houses has been reduced, from 4.1% to 3.8%, and the second home loan interest rate is 4.9%. A staff member of a bank branch in Wuxi also told reporters that the current first home loan interest rate has been reduced to 3.8%.

However, at the same time, in first-tier cities such as Beijing, Shanghai and Guangzhou, the interest rate of many banks for the first home of second-hand housing remains above 4%.

The mortgage lending cycle in some cities has been significantly shortened. It is understood that the waiting time is within a few days at the earliest, and about 1 month at the slower. The personal loan manager of a joint-stock bank in Guangzhou told reporters that the bank's current housing loan lending time has accelerated significantly, and the loan will be released immediately after the double certificate (real estate certificate and mortgage certificate) is completed.

The reporter learned from a number of banks and real estate agencies in Beijing that the lending cycle of second-hand housing loans has been significantly shortened this year, from about one month before to two or three working days at the earliest. However, there are still some banks that have a relatively long waiting time, for example, a staff member of a large state-owned bank said: "The current lending time is about one month." ”

There have been positive changes in the real estate market

Following the "good start" of credit in January, the financial data in February released further warmth. According to data released on March 1 People's Bank of China, RMB loans increased by 2.3 trillion yuan in February, an increase of 10.2 billion yuan year-on-year. By sector, household loans increased by RMB1.81 billion, of which short-term loans increased by RMB5928.2081 billion and medium- and long-term loans increased by RMB1218.863 billion.

Chen Wenjing, director of market research at the China Index Research Institute, told reporters that in February 2023, new medium- and long-term loans for residents ended 2 consecutive months of year-on-year growth since December 2021. The reason is that, on the one hand, the activity of the new housing and second-hand housing markets in key cities has rebounded after the Spring Festival, and the sentiment of the second-hand housing market in some cities has improved significantly, which has led to an increase in residents' credit demand to a certain extent. On the other hand, the low base in the same period last year was also an important factor.

Since the beginning of this year, a series of policies to stabilize the property market have been implemented, and the domestic property market has shown a trend of stabilization and recovery. On March 3, the National Bureau of Statistics announced the price of commercial housing in 16 large and medium-sized cities in February, the number of cities that rose month-on-month continued to increase, the sales price of commercial housing in various tier cities increased overall month-on-month, and the price of second-hand housing stopped falling across the board. There have been positive changes in the real estate market, and the signal of stabilization and recovery is obvious.

Chen Xiao, a senior analyst at Zhuge Data Research Center, believes that on the whole, in the first quarter of this year, especially after the Spring Festival, the real estate market picked up and pressed the acceleration button, and many cities brought to see and the transaction data was eye-catching. Heading into the second quarter, the market is expected to move into a moderate recovery phase.

However, Chen Wenjing said that the current recovery is more reflected in the market repair of hot cities, while the overall real estate market recovery still needs time, relying on the further support of relevant policies.