For the first suite, the report showed that the level of first mortgage rates rose in 17 cities in August. Of the 35 cities monitored, two have entered the "6 era" of first-suite mortgage rates. According to the report, Suzhou has three consecutive increases, the average first mortgage rate rose 1 basis point from a year earlier to 6.04%, while Nanning's average first mortgage rate was 6.01%, up 11 basis points from 5.9% in July.
The second mortgage, the report shows that the key monitoring cities, the average second mortgage rate of 5.78%, up 2 basis points from a year earlier, has been three consecutive months of upward fluctuations. Specifically, of the 533 bank branches (sub-branches) under key monitoring, 357 mortgage rates were 12 percent to 30 percent above the benchmark.
On the impact of the new LPR offer mechanism on home loans, Li Wanfu, a researcher at the Rong360 Big Data Research Institute, pointed out that the new policy on personal housing loans requires that new home loans in the future will be priced with reference to the LPR plus a few points, and that the interest rate for the first set of commercial personal housing loans shall not be lower than the market offer rate for the corresponding period of the loan, and the interest rate for the second set of commercial personal housing loans shall not be lower than the market offer rate for the corresponding period of the loan. interest rate plus 60 basis points.
If the current LPR level is followed, then the lower limit of the first-suite loan level is 4.85 percent; the lower limit of the second-suite loan level is 5.45 percent. Li Wanfu said the national average interest rate levels for both first- and second-suite loans in August were well above the interest rate floor set by the new policy.
"It should be noted that from the current data, the overall level of mortgage rates in Shanghai, Xiamen and Tianjin is below the lower limit of the new regulations and is facing upward pressure." Li Wanfu said the new mortgage policy has been implemented since October 8, pricing benchmark conversion, the first set of commercial personal housing loan interest rates shall not be lower than the corresponding period of the loan market quoted interest rates, the second set of commercial personal housing loan interest rates shall not be lower than the corresponding period of the loan market quoted interest rates plus 60 basis points. This means that if the latest quoted LPR on Sept. 20 does not go down, the banks concerned must raise the level of their mortgage rates.
Li Wanfu said, the recent central bank to reduce the reserve requirement ratio, the launch of the LPR new offer mechanism, although the purpose is to reduce the actual interest rate of loans through the bank conduction, but for the real estate industry, the policy level clearly put forward "not real estate as a short-term means to stimulate the economy," the regulatory layer of the funds to block the intensity, the violation of the strict inspection far from the real estate industry. The regulatory level of capital containment efforts, the violation of the inspection of the strict far more than before. In the short term, mortgage rates are unlikely to fall.