1. Reasons for lowering the lower limit of the interest rate of the first home loan and the central bank's statement: the interest rate policy of individual housing loan is an important part of the long-term real estate mechanism and differentiated housing credit policy. In order to adhere to the position that houses are used for living, not for speculation, fully implement the long-term mechanism of real estate, support local governments to improve real estate policies according to local conditions, support rigid and improved housing demand, and promote the stable and healthy development of the real estate market, in accordance with the relevant arrangements of the State Council, the People's Bank of China and the China Banking Regulatory Commission jointly issued a notice to clarify matters related to the adjustment of the lower limit of the interest rate policy for commercial personal housing loans.
Second, a misunderstanding: the lower limit of the loan interest rate does not mean that the loan interest rate will drop. It should be noted that the lower limit of the first commercial housing loan interest rate is lowered, which represents the lowest loan interest rate. Lowering the lower limit of the loan interest rate by 20 bp does not mean that the loan interest rate is lowered by 20bp.
In fact, Yang Ma imposes corresponding restrictions on the loan interest rates of banks all over the country, limiting the maximum and minimum loan interest rates of each bank, and within this interest rate range, banks can make differentiated pricing according to their own capital strength and assets and liabilities. However, this does not mean that the loan interest rate of all banks will drop by 20 basis points at present, which depends on the market funds, the amount of bank loans and the strength of banks.
Third, influence geometry? Assume that the interest rate of a bank loan has dropped by 20bp(0.2%), and take a commercial loan of 654.38+0 million with a term of 30 years and equal principal and interest as an example to estimate the repayment. If the interest rate is lowered by 20 basis points, the average monthly supply can be reduced by about 654.38+0.20 yuan.
Fourth, what is the significance? Reducing the interest rate of housing loans reflects the intention of stimulating the demand of the real estate market. In my opinion, it has the following significance:
(1) Stimulate marginal improvement of real estate demand and prevent a hard landing of the real estate market. On April 29th, the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting proposed to "promote the stable and healthy development of the real estate market". At present, the demand in the real estate market is relatively weak. By lowering the interest rate of housing loans, it will help to reduce the cost of buying houses and prevent panic selling and hard landing in the real estate market.
(2) It is beneficial to eliminate the "interest rate scissors difference" in the loan system and reduce the cost of individual housing purchase. In the loan interest rate system, there are housing loan interest rate, general loan interest rate and other indicators, among which the individual housing loan interest rate is still significantly higher than the general enterprise loan, but the risk is less than the enterprise loan, and the individual bears a higher risk premium in the housing field, which is contrary to the "capital asset pricing model"; The reduction of the lower limit is helpful to eliminate the scissors difference of the main loan interest rate system;
(3) It is conducive to stimulating economic development and promoting the goal of 5.5% annual GDP growth. In China's historical economic structure system, real estate has always been a very important link, although the center of future economic development will shift to high-tech industries such as intelligent manufacturing and artificial intelligence; However, in the context of the epidemic, consumption is sluggish, the economy is stagflation, endogenous motivation is insufficient, the external situation is turbulent, and inflationary pressure also exists. To some extent, lowering the lower limit of the first home loan interest rate will also help stimulate economic growth and boost economic confidence.
Readers, after the lower limit of the first home loan interest rate drops, will you have the idea of buying a house?