The quoted interest rate (LPR) in the loan market ended its trend for many months and ushered in the first downward adjustment since last August. The following small series will bring you a mortgage for 30 years1100,000 yuan, which will be less than 2 1 100,000 yuan. Let's take a look at it together, hoping to bring some reference.

LPR reduces the loan amount of110,000,000 yuan, which will be reduced by 2 1 10,000 yuan after 30 years.

At 9: 00 15 9, the People's Bank of China authorized the National Interbank Funding Center to announce that the quoted interest rate (LPR) of the loan market on June 20, 2023 was: 1 year LPR was 3.55%, down 10 basis point, and the five-year LPR was 4.2%, which was also down/kloc-0. Previously it was 4.3%.

In early June, state-owned banks and a number of national stock banks lowered the deposit listing interest rates, including 2-year deposits decreased 10bp and 3-year and 5-year deposits decreased 15bp. Subsequently, the policy interest rate was lowered. On June 3rd, 18, the 7-day reverse repo rate (short-term policy rate) for open market operation was lowered for the first time in a month 10 basis point to 10.9%, and the interest rates of SLF and MLF were lowered at the same time10 basis point.

The adjustment of LPR is related to the "money bag" of loan buyers. With the reduction of LPR-related personal housing mortgage loans for more than five years, mortgage owners will have the opportunity to enjoy the policy "big red envelope".

If the commercial loan amount is 6,543,800 yuan and the loan term is 30 years, the LPR will be reduced by 654.38+00 basis points, the monthly payment will be reduced by 58.54 yuan, and the accumulated monthly payment for 30 years will be reduced by 2,654,380 yuan.

However, this does not mean that mortgage owners will definitely save money. For buyers who give up the conversion to LPR and choose a fixed interest rate, the mortgage interest rate has nothing to do with LPR adjustment, and the mortgage will not change; For existing customers who have converted to LPR pricing rate, the repricing period and repricing date should be considered, and the monthly supply will remain unchanged before the repricing date.

Specifically, most banks began to adjust from 1 month in the New Year. Assuming that the repricing period agreed between the buyer and the bank is 1 year and the repricing date is 1 day every year, the reduction of five-year LPR this month will not affect the monthly mortgage repayment amount. In 2024, many people will have their mortgage in 1 month.

At present, the lower limit of the national unified commercial personal housing loan interest rate for the first suite is 4. 1%. After the five-year LPR is lowered by 10BP, the lower limit of the unified mortgage interest rate is expected to exceed 4%.

How does LPR downgrade affect mortgage loans?

According to the latest news released by the central bank official website at 9: 30, the People's Bank of China allowed the national inter-bank dismantling center. On April 20, 2020, the loan market quoted interest rate (LPR) was 65,438+3.85% for 0-year LPR and 4.65% for 5-year LPR. The above LPR is valid until the next version of LPR is released. Next, Bian Xiao will introduce the impact of LPR interest rate cuts on housing loans.

Compared with the data of LPR in March, the LPR of 1 year is 4.05%, and that of more than 5 years is 4.75%. This time, LPR decreased by 20 basis points in 1 year and 10 basis points in five-year and above, respectively, which is also the biggest decline since last August.

According to market analysis, the decline of LPR interest rate further reflects the downward direction of five-year or medium-and long-term loans, which has a positive effect on reducing the cost including housing loans.

One-year LPR breakthrough 4

The reporter found that since the LPR reform in August last year, LPR has dropped by 35 basis points in one year and by 20 basis points in five years.

This quotation of LPR is in line with market expectations. In order to guide the decline of loan interest rate, the central bank has made full preparations for determining the price before. After the interest rate of the central bank's reverse repurchase operation was lowered by 20 basis points at the end of March 7, the winning bid rate of the new MLF operation launched by the central bank was also lowered by 20 basis points on the morning of April 6, which was 15.

According to the previous rules, it is normal for the central bank to conduct MLF operation in the middle of the month, and an operation window is reserved to guide LPR quotation. Reverse repurchase -MLF-LPR has become the standard operation mode for the central bank to guide the reduction of financing costs.

From the perspective of overseas markets, many central banks have released water. In contrast, China's monetary policy remained unchanged, and the LPR interest rate remained unchanged in March.

However, in the face of the global impact of the epidemic, China's monetary policy has intensified its countercyclical adjustment. Since the beginning of this year, the central bank has used quantitative monetary policy tools such as RRR reduction, refinancing and rediscounting, and MLF to encourage financial institutions to increase their support for the real economy while maintaining reasonable and sufficient liquidity.

How much will lpr reduce the mortgage?

The two key points of the downward adjustment of mortgage interest rate with lpr interest rate are:

1, the mortgage interest rate is set at the lpr floating rate in commercial loans, and the mortgage interest rate =lpr interest rate+plus a little bit, and how much lpr is lowered, but the mortgage interest rate can only be lowered to the nominal value obtained by lpr+ plus a little bit.

2. The 2.lpr interest rate can be adjusted 12 times a year, and will be upgraded on the 20th of each month. However, the change cycle of mortgage interest rate is generally once a year, and 65438+ 10 June/0 October 10 June 65438+is re-priced, which is obtained by upgrading and updating the lpr+ in the same period in February of the previous year. Therefore, after the lpr is lowered, it is unknown whether, when and how much the housing loan will be lowered.

take for example

Assuming that the cost of housing loan is 200,000 yuan, the loan will be repaid with the same principal within 20 years, and will be priced with the floating interest rate of lpr. If the number is 0. 1%, it will not change. In 2022, the implementation interest rate of housing loans will be 4.75%, and the repricing number will be 65438+ 1 per year. In this case:

1. If the interest rate of the lpr upgraded on February 20th, 2022 is 4.3%, the interest rate of the new housing loan will be 4.3%+0. 1% = 4.4% after repricing on October 20th, 2023.

2. In 2022, the mortgage interest rate is 4.75%, and the monthly mortgage payment is = 1, 292.45 yuan. In 2023, the new interest rate will be 4.4%, and the monthly payment will be 65,438+0,254.53 yuan, and the monthly payment will be reduced by 37.92 yuan.

Is it feasible to lower interest rates and repay loans in advance?

If we want to save the loan interest, it is appropriate to repay the loan in advance even if the interest rate is lowered.

The reason is:

1, the mortgage interest rate is much lower than the interest saved by repaying the loan in advance. The earlier the loan is repaid in advance, the greater the interest saved.

For example:

If the principal and interest are repaid in 30 years, the interest rate of 500,000 loans will be reduced from 4.85% to 4.75%. This reduction of 0. 1% can only reduce the total loan interest by 6.5438+0 million, but if the loan is repaid 20 years in advance, the total annual interest will be saved by more than 200,000 yuan.

2. After the 2.LPR interest rate is lowered, the mortgage interest rate cannot be lowered immediately, and it is usually adjusted once a year.

For example:

The mortgage interest rate is set at 65438+ 10/month every June. Refer to the LPR interest rate updated in June 65438+February last year, and get a new pricing, which will not change in the next year.

In other words, no matter how the LPR interest rate is lowered this year, the mortgage interest rate will not follow the change and can only be adjusted on the repricing date. If the LPR interest rate rises at the initial stage of adjustment, the mortgage interest rate will also rise, but the loan interest may be higher than before.

What's the change of housing loan when choosing new LPR?

If the mortgage loan is 6,543,800,000 yuan, and the principal and interest are repaid in 30 years, the monthly payment will decrease by 60 yuan for every 654.38+00 basis points of LPR in five years. On April 5th, the LPR will be reduced from 654.38+00 basis points to 4.65%, and the monthly salary will be reduced from 52 16.47 yuan to 5 156 yuan.

The reporter learned from a number of banks in Beijing that the interest rate of the first commercial personal housing loan in Beijing was not lower than the LPR in the same period. In other words, the lower limit of the interest rate of the first individual housing loan is 4.75%, and 0.55%=5.3%. After the LPR is reduced by 65,438+00 basis points for more than five years, the interest rate of housing loan is 5.

LPR means that LPR is published once a month on 20th, but the actual interest rate of the corresponding housing loan will not be adjusted once a month, and the price cycle is usually 1 year. Since most banks stipulate that the annual re-pricing date is 65,438+0 days, the latest reference LPR for converted housing loans should be the LPR published in June 2020 with a term of more than 5 years.

The reporter's calculation shows that LPR still has a 4.65% increase after 65438+ February 5 this year. When buyers buy new houses and use the new LPR housing loan interest rate (regardless of the anchoring state of the interest rate), they will repay 654,380,000 yuan of housing loans in 30 years on average, and the monthly housing loan repayment in 202,654,380 years will be 54,965,438+0 yuan.

Up to now, the five-year LPR is 4.75%. If the interest rate of the first home in Beijing is 5.3%(4.75% 5 basis points), the monthly housing loan repayment amount is 5,553 yuan. Therefore, after the implementation of the new LPR interest rate, the monthly housing loan will reduce 62 yuan.

According to the benchmark interest rate of major banks in Beijing, the interest rate will rise by 65,438+00%, that is, 5%. 39% (excluding the increase or discount of interest rate of buyers), after the implementation of fixed interest rate, the monthly salary is 5,609 yuan. In this way, compared with the buyers who choose a fixed interest rate (no increase or discount), the buyers who implement the latest LPR can save 65,438+065,433 pounds per month.

Zhang Dawei, chief analyst of Zhongyuan Real Estate, believes that on the one hand, real estate insists on non-speculation, but it must be stable. Lowering interest rates will help to keep real estate expectations stable.