A. The impact of a 0.25% cut on home loans?

According to the latest news released by the central bank, the central bank cut the quota by 0.25 percentage points, releasing long-term funds of about 530 billion yuan, which is favorable for the property market. So, the central bank cut 0.25 points on the mortgage has an impact?

The central bank announced a cut on the mortgage is a certain impact, may reduce the bank loan interest. For those who already have a mortgage to say, the decline in the reserve requirement ratio, although not as direct as the interest rate cuts affect the lending rate, but most of the current real estate credit are used LPR, so the cut will help to promote the decline in the level of LPR, thereby reducing the mortgage pressure and burden of those who have a mortgage.

Reducing the quota helps financial institutions to meet reasonable housing demand, easing real estate liquidity risk, and contributing to a soft landing for real estate. Recent regulatory relaxation of real estate financing channels, support for real estate enterprises to issue debt, mergers and acquisitions loans. There are already more than 70 cities that have joined the ranks of real estate regulation relaxation.

And, the central bank's downgrade is good for the stock market, the property market, financial institutions and so on. Referring to the amount of funds released by the cut, the central bank said the cut*** counted the release of long-term funds of about 530 billion yuan. The cut is a comprehensive cut, in addition to the implementation of the 5% deposit reserve ratio of some corporate financial institutions, other financial institutions generally reduce the deposit reserve ratio of 0.25 percentage points.

Additionally, for city commercial banks that do not have cross-provincial operations and agricultural commercial banks with reserve ratios higher than 5%, on top of the 0.25-percentage-point cut in the reserve requirement ratio, an additional 0.25-percentage-point cut will help to increase support for small and micro-enterprises and the "three rural areas".

The purpose of this reduction, the central bank said that the current liquidity has been at a reasonably sufficient level, the purpose of this reduction, one is to optimize the funding structure of financial institutions, financial institutions to increase long-term stable sources of funds, enhance the ability of financial institutions to configure funds to increase support for the real economy; two is to guide financial institutions to actively use the reduction of funds to support the industry and small and medium-sized micro-enterprises affected by the epidemic; three is the reduction of funds to reduce the financial institutions to support the industry and small and medium-sized micro-enterprises affected by the epidemic. Thirdly, this reduction reduces the cost of funds of financial institutions by about 6.5 billion yuan per year, and through the transmission of financial institutions can promote the reduction of the overall cost of social financing.

Also noted, a reporter asked a question after the reduction of comprehensive consideration, the central bank said, the People's Bank of China will continue to implement a prudent monetary policy, pay close attention to changes in price trends, to maintain overall price stability; pay close attention to the major developed economies, monetary policy adjustments, taking into account the internal and external balance. At the same time, to maintain a reasonable abundance of liquidity, promote the reduction of comprehensive financing costs, stabilize the macroeconomic broader.

Two, the national bank raised interest rates, what is the impact on my mortgage?

1. Original lending rate: 5.94%85%=5.05%

Now lending rate: 6.14%85%=5.22%

Available with these data, give you a calculator to come off the data to calculate the /custserv/cs6/cs62/200811/ t20081117_130538.htm

After the calculation, the original monthly repayment: 2411

Adjusted monthly repayment: 2432 yuan

2. As for when to start, according to the bank of your loan and the loan contract to determine.

Loan interest is calculated according to the floating interest rate, after the bank loan interest adjustment, the interest rate level of loan interest calculation also adjusted. Of course no matter how it is calculated, there is no impact on the interest already paid. There will be an impact on the adjusted interest. General bank interest rate adjustment, the loan has not yet repaid part of the interest rate is also adjusted, there are three forms: First, the bank interest rate adjustment, the loan interest rate at the beginning of the following year to implement the newly adjusted interest rate (Industrial and Commercial Bank of China, Agricultural Bank of China, the construction bank mortgage is so); Second, the full year of adjustment, that is, for each repayment of the full year of the adjustment to the implementation of the new interest rate (the Bank of China mortgage is so); Third is the agreement of the two sides The new interest rate level is generally implemented in the month following the bank's interest rate adjustment.

Three, October 8, the central bank to adjust the mortgage interest rate policy, what is the impact on people who have taken out loans?

On October 8, 2019, the central bank carried out the adjustment of mortgage interest rates, so the adjustment. That is to say, all of our friends who had been in the bank by the loan, we every month some, but due to the amount of the loan different years, the difference is different, so we pay back the loan amount per month is also a difference.

That is to say, as long as the said bank for interest rates up or down, for those who have taken out a loan will have a direct impact, and the adjustment of the bank mortgage interest rate is not a this according to some of the country's policies and or the country's macro-control, to make the overall adjustment. Whether it is any bank, its interest rate towards the national central bank will be based on the overall

It is recommended that we buy a house, if the conditions are still good, it is best to pay the full interest rate can also be less, that is, the total amount of money to be more appropriate, to give a simple example, the purchase of a house is now generally speaking, the total amount of 30% of the house as a down payment, if the loan of one million, repayment of 20 years, then Our houses more than double, that is to say that all the excess is required to pay to the bank

So the less the loan, the less years of the loan, then we say that we then buy a house to live within their means, although the bank is happy to give everyone a loan, because you loan the more they are the more they benefit and the bank is not afraid of you do not pay, because you are buying a house in the line of the bank, and they have the right to the bank is willing to give any person a loan.

Four, the central bank interest rate adjustment on the impact of mortgage

Mortgage interest rate policy why adjust? In order to solve the problem of "expensive financing", the central bank recently introduced a new loan market quotation rate (LPR) to suppress the actual lending rate. The new LPR quotes have been changed to be formed by adding points to the open market operating rate (mainly the one-year medium-term lending facility rate); the frequency of quotes has been changed to monthly quotes, which are announced on the 20th of each month. Moreover, on the basis of the original one-year term varieties, the term varieties of more than five years are added to provide a reference for pricing interest rates on long-term loans such as housing mortgage loans issued by banks. That is, after the central bank's reform and improvement of the LPR formation mechanism, the pricing benchmark for individual housing loans also needs to be converted from the previous benchmark lending rate to the LPR.How will mortgage rates be priced in the future? Previously, mortgage interest rate pricing was based on the fluctuation of the benchmark interest rate. Effective October 24, 2015, the benchmark mortgage rate was 4.75% for terms of one to five years (inclusive) and 4.90% for terms of more than five years. As most of the mortgage terms are above five years, 4.90% has become the familiar benchmark rate for home loans. Going forward, with effect from October 8, 2019, the interest rate for new commercial personal housing loans is formed by adding the LPR of the corresponding maturity of the most recent month as a pricing benchmark. In this case, the LPR is calculated on the basis of the quoted bank rates quoted by the loan market quotation. The specific amount of each loan is determined by the lending bank in consultation with the borrower at the time of loan disbursement in accordance with the requirements of national and local housing credit policies and the comprehensive loan risk profile. Once determined, the additional value will remain unchanged throughout the contract period. For example, the LPR for the most recent month (August 20) with a term of more than five years is 4.85%. If the bank gives you a mortgage rate of 5.44%, this is a 59 basis point increase, which is 12% higher than the LPR benchmark. No more discounted mortgage rates in the future? Since July 20, 2013, the central bank abolished the lower limit of 0.7 times the lending rate of financial institutions, but the floating range of personal housing loan interest rates will not be adjusted for the time being. That is why we heard before "mortgage interest rates can be discounted by 30%"? But with the changes in the property market control policy and credit policy, in recent years, the general first mortgage interest rate is not less than 10% off the benchmark interest rate. According to the new pricing method, there will be no discounts on mortgage interest rates in the future. The new policy stipulates that the interest rate for the first set of commercial personal housing loans shall not be lower than the quoted interest rate of the corresponding term loan market, and the interest rate for the second set of commercial personal housing loans shall not be lower than the quoted interest rate of the corresponding term loan market plus 60 basis points. After the adjustment, has the minimum interest rate been raised or lowered? According to the above rule, based on the LPR of the most recent month (August 20), the interest rates for the first and second suite of new housing loans issued after October 8 shall not be lower than 4.85% and 5.45%, respectively. Previously, according to explicit or implicit regulations, the interest rate for first-suite home loans was generally not lower than 10% of the benchmark interest rate, and that for second-suite home loans was generally not lower than 1.1 times the benchmark interest rate, so the calculated values were 4.41% and 5.39%, respectively, according to Li Wanfu, an analyst at Rong360's Big Data Research Institute. "A simple comparison of these two sets of values reveals that the minimum interest rate for the first mortgage will increase from 4.41% to 4.85% and the minimum interest rate for the second mortgage will increase from 5.39% to 5.45%." Will the actual mortgage rates go down or up? On this issue, the central bank made it clear that "the interest rate on newly issued personal housing loans is basically consistent with the current actual minimum interest rate on personal housing loans in China." "Compared with the pre-reform period, the interest expenses of residential households applying for personal housing loans are basically unaffected." The actual interest rates currently implemented by most banks are 10%-20% above the benchmark for first home loans and 20%-30% above the benchmark for second home loans. According to the Rong360 Big Data Research Institute's 2010 statistics monitoring the mortgage market data of 35 cities "the new personal housing loan interest rates have remained stable, neither declining nor significantly increasing the interest burden." E Yongjian, chief financial analyst at the Bank of Communications Financial Research Center, said that the interest rate on new personal housing loans issued under the new mechanism will remain basically unchanged; the central bank's branches and sub-bureaus will set the lower limit according to the local situation. In terms of the future trend of the mortgage rate market, Li Wanfu said, "It is expected that there will not be a significant, generalized decline in the execution rate in the short term." Yan Yuejin, research director of the E-House Research Institute Think Tank Center, believes that from the second half of the year, considering the property market policy is still tight, in fact, the specific mortgage rate will only be adjusted upward and not downward. Rong360 Big Data Research Institute monitoring data shows that from the data, the second half of the country's mortgage interest rate level into the rebound phase. Who will increase interest in buying a home? Potential buyers who can enjoy discounts under the current benchmark interest rate. According to the data of Rong360 Big Data Research Institute, there are very few cities that implement 10% or even 9.5% discounts for the first suite first mortgage. in July, only Shanghai's first suite interest rate was 4.84%, which is lower than 4.85%. the average first suite interest rate in 5 cities was 5.44%, which is significantly higher than 4.85%. That is, in areas where first mortgage rates are discounted, interest rates for some potential homebuyers will rise, such as Shanghai; and in areas where rates have already risen, rates are likely to remain unchanged, such as Suzhou. in July, Suzhou's first mortgage rate of 6.03% was the highest in the country. "In terms of short-term actual interest rate levels, the new policy will only have a slight impact on a very small number of the highest-quality customers, and will have little impact on the vast majority of homebuyers." If LPRs generally remain at their current levels after Oct 8, the cost of home purchase for the best quality new mortgage borrowers will theoretically go up, said Li Wanfu. Has the interest rate on CPF loans for home purchase been adjusted? According to the Central Bank's announcement, the interest rate for commercial property purchase loans shall not be lower than the quoted market interest rate for loans of the corresponding tenor plus 60 basis points. Provident fund personal housing loan interest rate policy is not adjusted for the time being. In the view of analysts, this ensures that the first suite of home ownership needs. Now the implementation of "housing without speculation" positioning and real estate market long-term management mechanism of policy guidance. The current provident fund loan interest rate was adjusted and implemented on October 24, 2015, more than five years of provident fund loan interest rate of 3.25%, five years and the following provident fund loan interest rate of 2.75%, the whole country is the same. Will the interest rate on home loans in repayment be adjusted? The central bank made it clear that the personal housing loan interest rate adjustment is mainly for the newly issued personal housing loan interest rate, the stock of personal housing loan interest rate is still according to the original contract. That is, people who have long been loaned to buy a house, the amount of monthly loan repayment is still in accordance with the previously determined way to repay, no need to change. Just signed a contract, not yet disbursed, will be affected?Before October 8, 2019, the commercial personal housing loans that have been issued and the commercial personal housing loans that have signed a contract but have not been disbursed, are still implemented according to the original contract agreement. In other words, before October 8, 2019, a mortgage contract was signed, although the loan was not disbursed until after October 8, and the mortgage was also repaid at the interest rate determined by the benchmark interest rate pricing method before the reform. The central bank said that October 8, 2019 is the date of the pricing benchmark conversion. Before then, lending banks need to modify loan contracts, transform and upgrade their systems, organize staff training, and, at the same time, take various ways to do a good job of publicizing and explaining for customers to ensure that the conversion process is smooth and orderly. Can discuss with the bank to change the mortgage interest rate? Zhang Dawei said that in the past, borrowers applying for a mortgage, the interest rate is adjustable once a year. Currently the maximum legal term for a mortgage is 30 years, and there are some places special, for example, Beijing currently stipulates that the maximum term is 25 years. The loan contract signed by the buyer, mostly floating interest rates, if the central bank benchmark interest rate remains unchanged, the mortgage interest rate will not change, the monthly repayment amount will not change. However, from October 24, 2015 to the present, the benchmark interest rate of the loan have not changed, and many people's annual mortgage rate and repayment amount have not changed. According to the new policy, in the future, when borrowers apply for commercial personal housing loans, they can negotiate with the banking financial institutions to agree on an interest rate repricing cycle, with a repricing cycle of a minimum of one year and a maximum of the contract period. Each time the interest rate is repriced, the pricing benchmark is adjusted to the LPR of the corresponding term of the most recent month. i.e., because the LPR is updated every month, if the LPR is lower after one year than that of the previous year, you can pay back the loan at the lower rate as long as you have previously agreed; conversely if the interest rate rises, you will have to bear the pressure of the increased interest. "The implication is that the calculation of interest rates for future mortgages can be fine-tuned based on the needs of the homebuyer", Yan believes, but the pricing cycle needs to be agreed in advance, as well as the prime rate for pricing needs to be clarified. This provision will help to form a more diverse way of calculating loan interest rates, and will subsequently become a place where bank mortgage staff need to actively coordinate with homebuyers. Everyone's commercial mortgage rate will be different? In accordance with the principle of "city-specific policies", on the basis of the unified national credit policy (the interest rate for the first suite shall not be lower than the LPR for the corresponding period; the interest rate for the second suite shall not be lower than the LPR for the corresponding period plus 60 basis points), each province may, in accordance with the changes in the situation of the local real estate market, determine the lower limit of interest rate markups on the first- and second-suite commercial personal housing loans within its jurisdiction. interest rate markup floor. At the same time, according to the lower limit of the mark-up point of each province, banks may take into account the operational situation, the risk profile of customers and credit conditions, etc., to clarify the rules for pricing interest rates for commercial personal housing loans and reasonably determine the specific value of the mark-up point for each loan. In other words, if the customer's qualifications, including personal credit, financial income, debt ratio, and collateral qualification, are not that good, the loan interest rate will be higher than that of an average person. To get a lower loan interest rate, the borrower has to pay attention to the accumulation of personal credit in general. In Yan Yuejin's opinion, the future calculation of mortgage loans may show the phenomenon of varying from person to person, from amount to amount, and from market to market. Which places are likely to have higher mortgage rates LPR plus points? Zhou Jingtong, a researcher in charge of the Bank of China, also believes that the future mortgage interest rates will more prominently reflect the geographical, monetary policy and the credit strategy of each bank, and the differences in mortgage interest rates between different regions, different customers and different periods of time will be greater. Guo Yuwei, a macro analyst at Societe Generale Research, said that the central bank will guide the provincial market interest rate pricing self-regulatory mechanism to determine the lower limit of the local LPR markup in a timely manner, which indicates that the LPR lower limit will vary from city to city, and the LPR markup in areas where housing prices are rising faster may be higher, and the policy direction of one city, one policy, and housing without speculation has not changed. "In the actual operation process, some cities where house prices have risen too fast will be able to appropriately under the central bank's standards in the future, the basis point of the upward adjustment." Yan Yuejin also said that such upward adjustments will eventually affect the lending rates of the mortgage sector of specific commercial banks as well. The second set of mortgage interest rates will increase significantly? According to Li Wanfu's calculations, after the implementation of the new policy, the minimum interest rate for second-suite mortgages will rise from 5.39% to 5.45%, compared to the LPR plus 60 basis points. "The increase of 60 basis points for the second suite seems to be small, but combined with the principle of city-specific policies, it is expected that the implementation of the possible level of upward fluctuations will be much greater than 60 basis points." Fu Lichun, research director of Northeast Securities, said that based on the background of the suspension of second-hand home loans in some cities, the cost and availability of home loans will face some challenges in the future.58 Anju Rooms Property Research Institute, chief analyst Zhang Bo, said, "The clear requirements for the second-suite commercial loans reflect a clear attitude to protect the first set of home ownership needs of the first set of rigid demand, as well as to maintain the existing regulatory efforts not to relax. " "The next period of time the second suite mortgage interest rates may show a rising trend," said Yuan Chengjian, vice president of Zhuge Looking for Housing, which will have a certain inhibition on the real estate market sales. What will be the impact on the trend of housing prices? E Yongjian said, the central bank's reform is conducive to promote the decline in corporate lending rates, while avoiding overheating in the real estate market, fully embodies the intention not to real estate as a short-term means. "The policy is to avoid excessive mortgage lending, to guide funds into the real economy, the property market is a neutral policy." In Zhang Dawei's view, the policy was introduced to smooth real estate expectations, to avoid the role of real estate in the context of the LPR downward adjustment, to avoid capital detours into real estate. Zhang Bo believes that the central bank once again proposed to strictly prohibit the provision of personal housing loans, "remortgage", "plus mortgage" services, but also the implementation of "housing without speculation" is an important embodiment, not only can effectively Prevent the actual implementation of the regulation was drilled, but also effectively combat the demand for speculation, to reduce the market risk has direct practical significance.July, the property market continued to "fever" state. National Bureau of Statistics housing price data show that the number of new homes rose in July, the number of cities further reduced, the second-hand homes for 2 consecutive months as many as 20 cities fell. Zhang Dawei said, superimposed on August is the market's customary off-season, home prices are expected to downward adjustments in the city will continue to increase significantly. According to Zhang Bo, it is expected that the centralized trend of turnover in the third quarter is more obvious, but the hot sales in some cities can not drive the overall sales decline, driven by the cooling mainly in the third and fourth tier, the overall turnover shows a reduced trend. (Finish)Related Q&A: