Different banks have different loan interest rates. The "benchmark interest rate" on which banks are based is the same, which is issued by the central bank and adjusted irregularly; The "policies and regulations" on which banks are based are the same, such as the first two sets of regulations for cities that restrict purchases and the rise and fall of loans; However, within these two limits, it is up to the banks themselves to decide how much they can lend and whether the interest rate is 20% or 15%-different banks face different situations and different people are different.

How often is the mortgage interest rate adjusted?

How often the customer adjusts the loan interest rate after handling the mortgage mainly depends on the provisions of the loan contract signed by the customer. If the customer chooses a fixed interest rate, the interest rate will remain unchanged throughout the repayment period.

If the floating interest rate policy is adopted, it depends on the repricing cycle selected by the customer. For example, the shortest repricing period of commercial individual housing loan interest rate is one year. If the customer chooses one year, it is to adjust the interest rate once a year; If the customer chooses two years, the interest rate will be adjusted every two years. At that time, on the re-pricing day, the designated basis point will be calculated with the latest LPR to get a new interest rate, and then the new interest rate will be implemented in the next cycle.

Of course, we also need to note that if the loan is a personal housing provident fund loan, although it is also a floating interest rate policy, if the central bank does not adjust the benchmark interest rate of the loan during the whole repayment period, the customer's mortgage interest rate will not actually change. If the central bank adjusts, the new interest rate will be implemented the following year.

Mortgage calculation method

1. Equal principal and interest: monthly repayment amount = [monthly interest rate ×( 1+ monthly interest rate) repayment months ]≤[( 1+ monthly interest rate) repayment months-1]× loan principal;

Total repayment interest = loan amount × loan months× monthly interest rate ×( 1+ monthly interest rate) loan months /[( 1+ monthly interest rate) repayment months-1)- loan amount.

2. Average capital: monthly repayment amount = (principal/repayment months)+(principal-accumulated repaid principal) × monthly interest rate;

Total repayment interest = (repayment months+1)× loan amount× monthly interest rate /2.

There are generally two ways to repay the mortgage, namely, equal principal and interest and average capital. Their calculation methods are different. What needs to be said here is that the monthly repayment amount of equal principal and interest is the same, and the average capital is changing. The repayment amount of the same loan with equal principal and interest is relatively small, but the overall interest is more.