The People's Bank of China authorized the National Interbank Funding Center to announce that the loan market quoted interest rate (LPR) on January 20 was: 1-year LPR was 3.7%, down 10 basis points; LPR over 5 years was 4.6%, down 5 points basis point.

A reporter from China Securities Journal recently found through field research that banks in Beijing, Shanghai, and Guangzhou have sped up mortgage lending, and banks in Guangzhou, Shenzhen and other places have lowered their mortgage interest rates.

  According to industry insiders, the decline in LPR this time is a positive signal for the real estate market, but the reform tone of "housing, not speculating" will not change.

Shortened loan queue time

  The reporter visited or called banks and real estate agencies in Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing and other places successively, and found that the speed of lending by banks in various places has increased.

Among them, the loan queuing time in Beijing, Shanghai and other places has been greatly shortened, and most banks can complete the loan within a month.

  A staff member of the Personal Loan Center of the Beijing Branch of China Construction Bank told reporters: "Second-hand housing business loans had to queue up at the end of last year for loans, but now there is no need for them. Approval will be available in about a week, and loans will generally be issued within three weeks." Property manager of a large real estate agency in Beijing "Among the banks we work with, the fastest banks are able to disburse a home loan within a week," he said.

  Most banks in Shanghai's mortgage lending rate has been greatly improved compared to the previous period.

For example, a staff member of a sub-branch of ICBC Shanghai Branch revealed to reporters that there are still some existing customers who have not completed the loan from last year. Therefore, the loan time for new loan customers cannot be determined, but it is much faster than before.

A loan manager of Shanghai Pudong Development Bank Shanghai Branch said that the amount of mortgage loans in the first quarter was relatively sufficient.

After approval, the second-hand housing will be able to complete the loan in about 1 month.

A new home loan is faster, about two or three weeks.

At the same time, they said that the specific time should be finalized according to the actual situation of each branch.

  The situation of each bank in Guangzhou is slightly different, and the loan time varies from one month to three months.

According to the loan manager of a Guangzhou branch of Industrial Bank, the mortgage loan amount is relatively ample, and the approval speed has been shortened from about a week to two or three days.

"If the procedures are complete, the loan can be completed in about a month and a half." However, some employees of the sub-branch of the joint-stock branch said: "The loan time cannot be determined. It is difficult to loan a month, but it can be guaranteed within three months."

Lower interest rates in Guangzhou and Shenzhen

  The mortgage interest rates of banks in Beijing and Shanghai are relatively stable, and the base point of the increase has not changed.

  The staff of China Construction Bank's Beijing Personal Loan Center said: "The interest rate fluctuates with the LPR. The first home loan interest rate was 5.20% before, and it was 5.15% after the LPR fell on January 20. The floating base point has not been adjusted, and the change is not obvious compared to the previous time."

  A large real estate agency in Shanghai introduced to reporters that the first-home commercial loan interest rate is adjusted with the LPR.

This LPR drop is a fine-tuning.

  In Guangzhou, Shenzhen, Chongqing and other places, the mortgage interest rate has been reduced by a large margin.

  "Chongqing has indeed dropped a little recently. The current first-home loan interest rate is between 5.55% and 5.65%. Compared with the highest time last year, the reduction is larger." A real estate agency manager in Yubei District, Chongqing revealed to reporters.

  Some banks in Shenzhen's first home loan interest rate fell below 5%.

The personal loan manager of a sub-branch of China Merchants Bank Shenzhen Branch told reporters that the current first-home loan interest rate can be applied for at least 4.9%, depending on the work unit, provident fund situation and personal credit information.

  In addition, the reporter learned from a real estate agency in Shenzhen that the interest rate of some banks' first home loan interest rate has been lowered from 45 basis points to 30 basis points. The number of people has dropped significantly, and most people are in a wait-and-see state. The houses that were sold out in 3 hours after opening, now there are more than 200 houses left after the opening day.”

  In Guangzhou, most large state-owned banks have lowered their floating base points for first- and second-home loans by about 20 basis points.

Some joint-stock banks and city commercial banks have made greater efforts, and some have lowered it by 40 basis points.

After the LPR adjustment, the first home loan interest rate in Guangzhou is mainly between 5.6% and 5.8%.

"Housing to live without speculation" is the general direction

  Zou Lan, director of the Financial Market Department of the People's Bank of China, said at a press conference held by the State Council Information Office on the 18th that the housing loan policy will still be based on the positioning that houses are used for living, not for speculation, according to the long-term mechanism. arrangements remain basically stable.

  Zhang Dawei, chief analyst of Centaline Real Estate, believes that the purpose of this LPR decline is to stabilize the economy, not to stimulate real estate, and "housing and not speculating" is still the policy direction.

The five-year LPR fell only 5 basis points this time, and there was another asymmetric interest rate cut.

Therefore, the decline in LPR this time is obviously good for real estate, but it will not overheat.

However, the stabilization of the real estate market in some cities, especially first- and second-tier cities, will be a trend.

  The person in charge of the personal loan department of a joint-stock bank in Beijing told reporters that in a strict sense, LPR is just a signal, and it cannot directly predict the actual situation of housing loans.

The interest rate adjustment for bank loans also involves factors such as bank operating conditions, lenders, and credit risks.

This LPR drop only affects borrowers who choose the "floating rate" method, and will not affect borrowers who choose the "fixed rate" method.

  According to industry insiders, the main purpose of this LPR decline is to smooth the liquidity during the Spring Festival, and secondly, to reduce the capital cost of financial institutions, guide financial institutions to reduce the cost of credit to the real economy, and make counter-cyclical monetary policy efforts ahead. .

  (Originally titled "Investigation on Bank Mortgage Loans: Speeding Up Bank Loans in Multiple Places")