Some analysts believe that this move further reflects the recent emphasis on the digestion and implementation of existing policies. On the other hand, although LPR remains unchanged, it does not affect the continuous easing of credit policy. According to institutional monitoring, the down payment ratio of the first home loan can be reduced to 20% in at least 80 cities, including some hot provincial capitals.
19 the mainstream interest rate of the first home loan in the city fell below 4%.
According to a recent report released by RealData, in June 2022, the average interest rate of the first set of mainstream interest rates was 4.09%, and that of the second set was 4.9 1%, which was basically the same as that of the previous month, dropping by 155BP and 100BP respectively, hitting record lows.
From the perspective of cities, the mortgage interest rate in first-tier cities is the highest, with an average of 4.60% for the first set and 5. 13% for the second set, which is the same as last month. The first set of interest rates in second-tier and third-and fourth-tier cities averaged 4.07%.
Judging from the rate cut, the mortgage interest rate in third-and fourth-tier cities dropped the most year-on-year, with the first two sets of interest rates dropping by 164BP and 107BP respectively. The mortgage interest rate in first-tier cities decreased the least year-on-year, and the first and second interest rates only decreased by 69BP and 62BP.
According to the report, as of 65438+February 18 and 19, the mainstream interest rate of first home loans in cities has dropped below 4.0%, including 6 in second-tier cities and 3 in third-and fourth-tier cities. According to the first mainstream interest rate, only 9 cities are higher than 4.1%; Judging from the two sets of mainstream interest rates, only four cities in Beijing, Shanghai and Xia 'an are higher than 4.9%.
In terms of average lending cycle, due to the recent epidemic, it has been extended since last month. The report shows that the bank lending cycle from June to February in 5438 was 28 days. Among them, the average lending period in first-tier cities is 35 days, that in second-tier cities is 26 days, and that in third-tier cities is 27 days.
The minimum down payment in more than 80 cities has been reduced to 20%.
In addition, according to RealData monitoring, in 82 cities including Wuhan, Nanchang, Shijiazhuang, Changchun, Harbin, Guiyang, Nanning and Urumqi, the minimum down payment ratio of the first home commercial loan can reach 20%.
In cities such as Shenzhen, Guangzhou, Tianjin, Hangzhou, Xiamen, Chengdu, Nanjing, Hefei and An, the minimum down payment ratio of the first home commercial loan has been reduced to 30%. But overall, Beijing and Shanghai are still the cities with the strictest mortgage credit environment in China.
Since the beginning of this year, the credit policies of key cities such as Zhengzhou, Xi, Hangzhou and Nanjing have continued to be loose, and the policy of "recognizing housing and repaying loans" has been optimized or cancelled in many places.
According to the monitoring scope of RealData, as long as more than 70% of the cities have settled the existing loans, the second loan to buy a house is still implemented according to the first suite. In addition, 29 cities still implement the policy of "recognizing housing and recognizing loans". These cities include first-tier cities and Greater Bay Area cities, such as Dongguan, Foshan, Zhongshan and Zhuhai.
There is still room for optimization of credit policy.
With the gradual easing of the credit environment, mortgage interest rates in some areas have been at historically low levels.
According to Wen Bin, chief economist of Minsheng Bank, in addition to promoting the recovery of the property market, it is more important to further reduce the burden on housing consumers by lowering the existing mortgage interest rate, so as to stabilize residents' balance sheets and promote consumption recovery.
RealData believes that the recent Central Economic Work Conference regards supporting housing improvement as an important task to expand domestic demand. It is expected that the demand-side easing policy will continue in the future, and there is still room and possibility for further optimization of restrictive policies in high-energy-consuming cities, including loan interest rates, down payment ratio, and loan recognition policies.
Recently, the relevant person in charge of the Central Financial Office explained the spirit of the Central Economic Work Conference and the current economic hot issues, saying that it is necessary to ensure the stable development of the real estate market. Among them, in terms of expectations and needs. Efforts should be made to improve expectations, expand effective demand, and support rigid and improved housing demand. For example, there are still some restrictive policies that hinder the release of consumer demand in housing consumption and other fields, and these consumption potentials should be released. At the same time, reasonably increase consumer credit and support consumption such as housing improvement.
The person in charge pointed out that there is still much room for improvement in China's urbanization rate, and the demand for rigid and improved housing is huge. Recently, intensive policies and measures will gradually take effect, and various policies and measures will continue to be improved.