This interest rate is a bit high. How to judge whether the mortgage interest rate is high or not? The author thinks that there are three standards: compared with the national average, compared with the same region, compared with the current bank wealth management rate of return; 1, compared with the national level, the mortgage interest rate fluctuates every month. The second half of 20 16 should be the lowest level in history. At that time, the average interest rate of the first home mortgage in China was as low as 4.45%, which was equivalent to the discount of the national mortgage interest rate. At that time, people who bought houses were more favorable, so your mortgage interest rate should be compared with the national mortgage level.
If the national average is 6%, then your 5.88% is not too high, after all, it is lower than the national average; On the other hand, if the national average is 5.5%, then your mortgage interest rate is a bit high. The chart below shows the trend of the average interest rate of the first home mortgage in China in the past seven months. The highest mortgage interest rate was in June of 20 18 and June of10, and the national average mortgage interest rate was 5.7 1%, and the lowest was in May of 20 19. The level in June 5438+ 10 was 5.52%, so your mortgage was 5.88%, which was 20% higher than the benchmark interest rate and 0.36 percentage points higher than the national average mortgage interest rate. In this sense, your mortgage interest rate is a bit high.
2. Compared with the same regional level, there are 70 large and medium-sized cities in China, about 300 prefecture-level cities and more than 0/000 counties. So every city is different, and the national average is really just an average. The city with the lowest interest rate is Shanghai. The average interest rate of the first home mortgage in Shanghai this year is even lower than 4.9%, while the average interest rate of the first home mortgage in Suzhou is over 6%. Readers in Wu Hanyou commented that the mortgage interest rate rose by 40%, while readers in Dongguan and Huizhou also reported that the mortgage interest rate they handled rose by more than 30%. So your mortgage interest rate needs to be compared with the local average. If your company is good and your credit information is good, most of you can get a mortgage interest rate below average.
3. Compared with the bank's financial yield at that time, readers often reflect whether my mortgage interest rate is too high. Is it appropriate for me to repay in advance now? In fact, the best reference for this problem is the rate of return of bank financing at that time, because the rate of return of bank financing is relatively stable and safe, and of course the rate of return will not be too high. It may be between 4% and 5% at present.
Your 5.88% mortgage interest rate is still a little high. With funds and no better investment channels, it is cost-effective to repay in advance. In the medium and long term in the next few years, the downward trend of interest rate in China is inevitable, because the economic growth rate is downward, so the overall social return on investment is downward, so the return on investment and financial management of banks is naturally downward.
Trend chart of loan interest rate over the years
Loan interest rate (1) The loan interest rate is related to the loan purpose, loan nature, loan term, loan policy and different lending banks. The state sets the benchmark interest rate, and banks determine the differential loan interest rate according to various factors, that is, floating up or down on the basis of the benchmark interest rate. The current benchmark interest rate was adjusted and implemented on July 7, 20 1 1 year. Types and annual interest rates are as follows: ① Six-month (inclusive) short-term loan 6.10%; ② 6.56% from half a year to one year (inclusive); ③ One to three years (inclusive) 6.65%; ④ Three to five years (inclusive) 6.90%; ⑤ More than five years and 7.05%. (2) Take mortgage as an example: comprehensively evaluate the bank loan interest rate according to the credit status of the loan, and determine the loan interest rate level according to the credit status, collateral and national policy (whether it is the first suite or not). If all aspects are evaluated well, the mortgage interest rates implemented by different banks are different. 20 1 1 Due to the shortage of funds and other reasons, the interest rate of the first home loan of some banks is 1 of the benchmark interest rate. Since February 20 12, most banks have adjusted the interest rate of the first suite to the benchmark interest rate. At the beginning of April, large state-owned banks began to implement preferential interest rates for the first home loan. The interest rate discount of some banks can be up to 15%. The interest rate after 15% discount for more than five years is 7.05%0.85=5.9925%.
202 1 list of bank mortgage interest rates
The following are the loan interest rates for more than five years, and each bank will be slightly different.
Ping An Bank: The benchmark interest rate of the first home loan is 4.65%, with BP 1.08% raised, and the interest rate of the executed loan is 5.73%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.32%, and the interest rate of the executed loan is 5.97%.
Agricultural Bank of China: The first property in loan prime rate is 4.65%, with an increase of BP 1.03%, and the interest rate of the executed loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
Industrial Bank: The benchmark interest rate of the first home loan is 4.65%, with BP 1.03% raised, and the interest rate of the executed loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
Industrial and Commercial Bank of China: The benchmark interest rate of the first home loan is 4.65%, with BP 1. 13% raised, and the interest rate of the executed loan is 5.78%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.33%, and the loan interest rate is 5.98%.
Bank of China: The benchmark interest rate of the first home loan is 4.65%, with BP 1.03% raised, and the interest rate of the executed loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
Bank of Communications: The benchmark interest rate of the first home loan is 4.65%, with BP 1.03% raised, and the interest rate of the executed loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
China Construction Bank: The benchmark interest rate of the first home loan is 4.65%, with BP 1.08% raised, and the interest rate of the executed loan is 5.73%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.38%, and the interest rate of the executed loan is 6.03%.
China Postal Savings Bank: the first property in loan prime rate is 4.65%, with an increase of BP 1.03%, and the interest rate of the loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
China Merchants Bank: The benchmark interest rate of the first home loan is 4.65%, with BP 1.03% raised, and the interest rate of the executed loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
China Everbright Bank: loan prime rate for the first suite is 4.65%, with an upward adjustment of BP 1.03% and an execution loan interest rate of 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
Shanghai Pudong Development Bank: The benchmark interest rate of the first home loan is 4.65%, with BP 1.03% raised, and the interest rate of the executed loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
China guangfa bank: the benchmark interest rate of the first home loan is 4.65%, with BP 1.03% raised, and the interest rate of the executed loan is 5.68%. Loan prime rate for the second suite is 4.65%, with an increase of BP 1.28%, and the interest rate of the executed loan is 5.93%.
First home loan interest rate table 2023
The latest policy of mortgage interest rate in 2023 is as follows:
In 2023, the down payment and interest rate or socks in some cities will exceed the lower limit.
In cities where the sales price of newly-built commercial housing has decreased for three consecutive months, the lower limit of the local first home loan interest rate policy can be maintained, phased down or cancelled.
Specifically, there are three main points:
1, house prices fell for three consecutive months.
2. Only the lower limit of the first home loan interest rate can be adjusted.
3. If the house price rises for three consecutive months, the lower limit of the national unified interest rate will be restored.
This policy is actually a continuation of the mortgage interest rate policy in 2022.
Policy analysis:
Judging from the trend of LPR in 2022, in August, the LPR for five years and above dropped to 4.3, and the interest rate of the first home loan could be as low as 4. 1%.
Then, on September 29, 2022, the central bank and the China Banking Regulatory Commission decided to adjust the differentiated housing credit policy in stages. Eligible city governments can independently decide to maintain, reduce or cancel the lower limit of the first set of local new housing loan interest rates before the end of 2022.
According to statistics, among the 70 large and medium-sized cities at that time, there were at least 23 eligible cities, including 8 second-tier Beijing tea-line cities such as Tianjin and 3/4 third-tier cities such as Wenzhou and Yueyang.
After the introduction of the policy, many places responded positively. For example, Jining, Huanggang and Qingyuan adjusted the lower limit of the first home loan interest rate to LPR minus 60 basis points and LPR minus 35 basis points. Jiangmen and Zhanjiang even canceled the lower limit of interest rate declaration.
However, the "929 New Deal" does not play an obvious role in regulating market expectations and pulling transactions. For example, the housing prices of new houses in Jining and Zhanjiang announced by the Bureau of Statistics continued to grow negatively. According to CRIC data, the transaction area of commercial housing in Qingyuan in the fourth quarter decreased by 63% and 20% respectively.
The policy issued by the central bank and the China Banking Regulatory Commission is a further upgrade of the 929 policy. The biggest difference is two points. First of all, the 929 policy only has a three-month probation period, and the New Deal has not yet set a deadline. Second, the New Deal set up an exit mechanism to restore the lower limit of the national unified interest rate after three consecutive rises in house prices.