Some domestic cities cut mortgage interest rates

. Industry insiders pointed out that the credit market is expected to gradually release the backlog of mortgages after March.

  Yesterday, according to local media reports, some banks in Xiangyang and Shiyan, Hubei lowered their mortgage rates by 40BP to 45BP.

After the adjustment, the mainstream interest rate of first home loan in the two places has dropped to below 5.3%.

In addition, the mortgage interest rate in Yangzhou has also been continuously lowered, and the first mortgage interest rate of some banks has dropped to below 5%.

  Shiyan Xiangyang Mortgage Interest Rate

  Down by about 40 basis points

  Data show that in February, the mortgage interest rates of major banks in Shiyan were around LPR+103BP (5.63%) for the first home loan and LPR+128BP (5.88%) for the second home loan.

After this adjustment, the mortgage interest rate for the first home in Shiyan will be reduced by about 45 BP to LPR+58BP (5.18%); the mortgage interest rate for the second home will be reduced by 40 BP at the current level, that is, LPR+88BP (5.48%).

  In February, the mortgage interest rate for the first home in Xiangyang was LPR+113BP (5.73%), and the mortgage interest rate for the second home was LPR+137BP (5.97%). This time, it was reduced by at least 40 BP.

It is understood that the four major state-owned commercial banks in Xiangyang took the lead in lowering mortgage interest rates on March 19.

The person in charge of a big bank said that the interest rate for first-time homes was lowered to 5.28%, and the second-home rate was 5.57%.

Local joint-stock banks also cut mortgage interest rates simultaneously.

At present, the first home loan interest rate is 5.28%, and the second home loan interest rate is 5.57%, which are the mainstream interest rates in the local home loan market in Xiangyang.

  A relevant person in charge of a state-owned bank in Xiangyang said that the 5.28% first-home loan interest rate is the lowest level in the past four years.

On the one hand, it is because the bank's housing loan funds are relatively abundant, and on the other hand, the bank wants to promote the stable and healthy development of the real estate market by adjusting the housing loan policy.

  The interest rate cut this time is a real positive for buyers who just need homes.

Taking the first home loan in Shiyan City as an example, a 30-year commercial loan of 1 million yuan is repaid according to the equal principal and interest. The monthly payment in February is 5759.72 yuan. Now you can enjoy 5.18% interest rate and the monthly payment is 5478.76 yuan. 281 yuan less than in February.

  It is reported that the down payment ratio policies in Shiyan and Xiangyang have not yet been adjusted.

Under normal circumstances, as long as the materials are complete, the loan can be released within 2-3 working days.

  Yangzhou has a bank's first home loan interest rate "breaking 5"

  Since the end of last year, the mortgage interest rate in Yangzhou has also shown a downward trend: in January this year, the interest rate for first home buyers dropped from about 5.5% at the end of last year to 5.35%, and in February it dropped to about 5.3%. In March, the mortgage interest rate in Yangzhou continued to decline.

  According to a staff member of a major local state-owned bank, last week, the bank took the lead among the four major banks in lowering the interest rate for the first home to 5.0% and the second home to 5.2%.

At present, "5.0% for the first set and 5.2% for the second set" has become the mainstream of the mortgage interest rate of the major state-owned banks in Yangzhou.

  Small and medium-sized banks in Yangzhou have lowered their mortgage rates even more aggressively.

The preferential interest rate offered by Yangzhou Branch of a city commercial bank to high-quality customers has dropped to 4.98%, the lowest level in recent years.

  Property market stabilization is expected to accelerate

  Since the beginning of this year, the property market policy has continued to warm up, releasing many positive signals.

Many cities across the country have successively lowered their personal housing loan interest rates, including first- and second-tier cities such as Guangzhou and Zhengzhou.

In addition, many cities have introduced favorable policies such as canceling the "housing and loan subscription", reducing the down payment ratio, increasing the loan amount of the provident fund, providing housing subsidies, and providing support for talents to purchase housing.

  Zhang Dawei, chief analyst of Centaline Real Estate, said that the core reason for the apparent downturn in this round of property market is the tightening of credit policies, including the backlog of queues caused by the tightening of mortgages for home purchases, and the plight of highly leveraged companies caused by the tightening of financing for developers.

In recent months, the credit policy has been significantly eased, the policy fundamentals have bottomed out, and various policies that are conducive to rigid demand and improve the real demand of home buyers continue to emerge.

At present, there are obvious signs of easing in the property market policies in many places.

Whether it is mortgage loans or corporate financing, there are easing policies. The credit market is expected to gradually release the backlog of housing loans after March, and achieve stable development. The property market in first- and second-tier cities is expected to pick up first.

If there is another RRR cut and interest rate cut recently, the market is expected to stabilize faster.

Photo courtesy/Visual China


  LPR unchanged in March

  1-year 3.7% 5-year and more 4.6%

  As expected by the market, LPR did not drop in March.

Yesterday, the People's Bank of China authorized the National Interbank Funding Center to announce that the loan market quoted interest rate (LPR) on March 21, 2022 is: 1-year LPR is 3.7%, and LPR for more than 5 years is 4.6%, both with the previous month. It was flat, remaining stable for two consecutive months.

  The Medium Term Lending Facility (MLF) rate is the basis and indicator of the monthly LPR quotes.

MLF operates on the 15th of each month (it will be postponed in case of holidays), providing a reference for the LPR quotation on the 20th of each month.

On March 15, the central bank launched a 200 billion yuan MLF operation with a one-year term and an interest rate of 2.85%, the same as last time.

  In December 2021, the 1-year LPR for 19 consecutive months was cut by 5 basis points. On January 20 this year, the 1-year LPR and the LPR of more than 5 years were reduced by 10 basis points from the previous month. and 5 basis points, of which the 5-year LPR was cut for the first time since April 2020.

  The financial operation data released by the central bank showed that from January to February this year, new RMB loans were 5.1 trillion yuan, an increase of 0.27 trillion year-on-year; from January to February, the new social financing was 7.4 trillion, an increase of 0.45 trillion year-on-year; 2 At the end of the month, the stock of social financing scale increased by 10.2% year-on-year, and the balance of RMB loans increased by 11.4% year-on-year.

  This group of articles / our reporter Cheng Jie