The mortgage interest rate of 5.88% is normal.

If the final mortgage approval rate is higher than the face-to-face signing rate, the bank will implement the loan after the mortgage applicant agrees. If the applicant disagrees with the final interest rate, the loan can be cancelled.

At present, the loan interest rate of the first suite is 5.39% to 5.88%, and that of the second suite is 5.39% to 6.37%, and the common one is 5.88%, so it is normal whether you are the first suite or the second suite. The rise of loan interest rate will have a great impact on housing, especially for some young people who plan to buy a house. They may not be able to pay all the housing bills at once. Therefore, housing loan is very necessary.

1, the mortgage interest rate usually refers to the annual interest rate, but the annual interest rate will be divided into monthly interest rates when repaying the loan every month.

2. Relationship between annual interest rate and monthly interest rate:

Monthly interest rate = annual interest rate/12, annual interest rate = monthly interest rate * 12. For example, the annual interest rate is 7.05%, which translates into a monthly interest rate of 7.05%/ 12=5.875‰ (generally, the interest rates of banks in mortgage contracts are expressed by monthly interest rates).

3. So the annual interest rate is generally% (percentage), and the monthly interest rate is generally expressed as ‰ (one thousandth).

4. If the loan term is more than one year, the loan interest rate will be adjusted once every June 65438+ 10 1. If the benchmark interest rate is not adjusted within the loan term, the loan interest rate will not be adjusted.

Extended data:

Interest rate characteristics

The mortgage interest rate in China is uniformly stipulated by the People's Bank of China. If there is a real estate loan in a bank, the loan should pay interest at the interest rate stipulated by the bank. This interest rate is the mortgage interest rate. 2065438+June 7, 2002, the central bank issued an urgent document to commercial banks, requiring that the lower limit of the floating range of individual housing loan interest rate of commercial banks should still be 0.7 times of the benchmark interest rate.

Commercial banks will implement the new interest rate: from 20 13 10, so that mortgage borrowers can reduce the pressure. But each commercial bank can float within a certain range. The mortgage interest rate in China is not always constant, but often changes. The form is that interest rates have been rising, so we often compare the situation before and after raising interest rates.

Current benchmark interest rate? Before adjusting the current preferential interest rate, adjust the benchmark interest rate and adjust the preferential interest rate.

10 fixed rate loan 8.613% 6.930% 7.953% 7.099%

20-year fixed-rate loan 8.811%7.580% 8.121%7.246%

Five-year floating rate loan 5.760% 4.032% 5.918% 4.204%

30-year floating rate loan 5.940% 4.158% 6.098% 4.350%

Mixed interest rate loan with fixed term of 3 years 7.200% 6.120% 8.045438+0% 7.069%

Mixed interest rate loans with a fixed term of 5 years 7.290% 6.660% 8.121%

Why is the interest rate of the first home loan higher than that of personal commercial loans?

There are many reasons for the high loan interest rate, but there are three common ones: 1, rising house prices; 2. the demand for loans to buy a house has increased; 3. Increase in loan costs, etc. These reasons will lead to an increase in the interest rate of the first home mortgage;

If you don't understand the loan application process, you can find customer service;

Why should the interest rate of the first home loan be raised?

Reasons for the interest rate increase of the first home loan:

First of all, high housing prices have begun to highlight risks. Banks are at the forefront and are most sensitive to the real estate market. Raising interest rates is not to increase loan income, but to curb real estate speculation.

Because the policy of restricting real estate speculation is too obvious, even if more interest can be charged, banks will be worried about refusing to lend directly.

In such a sensitive period, Xinhua News Agency issued a document shouting: Stabilize real estate and strictly control it! The article points out that in practice, we should resolutely implement the policy orientation of "housing and not speculating".

More banks should join the suspension of loans.

Second, the floating interest rate of banks stems from the rising cost of bank funds and the rising price of interbank funds. In order to maintain a certain profit FTP pricing level, the mortgage interest rate can only be raised within a certain range. To put it bluntly, FTP pricing is too low, and the basic business of the bank is done for nothing, and there is no profit.

Third, the risks of banks themselves have increased. Not only because of the risk of real estate loans, banks invest in other large-scale infrastructure, and loans are used for enterprise development. With the further uncertainty or even deterioration of the economic environment, banks need to assess their own risks more subtly.

Fourth, the rapid rise in housing prices will make the real estate bubble grow continuously. When it bursts, it will certainly breed a wide range of bank bad debts, affect the financial system, and then affect the real economy, so that people's income will drop and the economy will be depressed. In this sense, curbing housing prices does reduce the harm of national economic operation, and at the same time, it is conducive to improving people's livelihood to a certain extent.

Extended data:

The impact of the increase in mortgage interest rate on buyers;

1. As long as the benchmark interest rate is not adjusted, the increase in mortgage interest rate has no effect on the loans already issued.

2. The loan interest is calculated according to the floating interest rate, and the interest is adjusted with the interest rate adjustment. Of course, no matter how it is calculated, it has no effect on the interest paid. Will have an impact on the adjusted interest. After the general bank interest rate adjustment, the interest rate of the outstanding part of the loan is also adjusted accordingly, which has three forms:

First, after the bank's interest rate is adjusted, the newly adjusted interest rate will be implemented at the beginning of the following year (ICBC, ABC and CCB are all like this);

The second is annual adjustment, that is, the new interest rate is adjusted and implemented every year of repayment (such is the case with China bank mortgage);

Third, the two sides agreed that the new interest rate level will generally be implemented in the month after the bank's interest rate adjustment. The adjustment of the interest rate of provident fund loans is carried out every year 1 month 1 day.