China Bank's pricing benchmark is converted into LPR, which means that the financial institutions launched by the state convert the interest rate pricing method agreed in the original contract into the loan interest rate conversion business with LPR as the pricing benchmark, and the bonus will be fixed for the remaining term of the contract. Moreover, the pricing benchmark can only be converted once and cannot be converted again. Stock floating rate loans that have been in the last repricing cycle may not be converted.

What is the relationship between LPR and mortgage interest rate?

First of all, be sure to confirm your mortgage type. The relationship between mortgage interest rate and LPR is different for different loan types.

(1) provident fund loan. The loan interest rate has nothing to do with LPR and is not affected by LPR.

(2) Pure commercial loans. The loan interest rate will be affected by LPR, will change with the change of LPR, and will change every year in the pricing cycle.

(3) Portfolio loan. If it is a portfolio loan, the part of the provident fund loan will not be affected, while the interest rate of commercial loans will be affected by the change of LPR. If the interest rate of commercial loans changes, it will affect the lender's monthly payment, and it will also change every year during the pricing cycle.