The renewal time of mortgage after lpr mainly depends on how the re-signed loan contract is agreed. If the agreement is one year, then the mortgage interest rate will be updated one year later. For more than 1 year, the mortgage interest rate can be automatically updated when the agreed term expires, and it will be implemented according to the interest rate agreed in the contract until it is updated. If the lender chooses the agreed term when signing the contract, the shortest term may be 1 year, and the longest term may be the whole loan term.

How often does the mortgage loan renew after lpr?

In addition, the lpr interest rate is quoted once a month. According to relevant regulations, before 9:00 on the 20th of each month (postponed on holidays), each quotation bank shall submit the latest price to the National Inter-bank Fund Lending Management Center in steps of 0.05%. According to the average calculated value after excluding the highest quotation and the lowest quotation, the National Inter-bank Market Financing Center obtained the lpr interest rate and announced it at 9: 30 on the same day. We inquired in the National Inter-bank Market Financing Center and official website, the People's Bank of China. The LPR of 1 year is the annualized interest rate instead of the monthly interest rate. After August 20, 2020, the upper limit of administrative protection of private lending interest rate will be adjusted to 4 times of 1 year, which also refers to annualized interest rate. For example, on August 20th, 2020, the LPR price of fixed term 1 was 3.85%, which represented the loan contract signed by users before September 20th. The upper limit of annual interest guarantee is 15.4%, and the converted monthly interest is about 1.28%.