However, it should be noted that before 20 19 10, the interest rate of commercial loans is fixed, and subsequent loans are also floating. All five state-owned banks have announced that they can implement floating interest rates before August 25, 2020, but if they haven't decided yet, all banks (ICBC, CCB, ABC, BOC and Postal Savings Bank) will convert the remaining loans into LPR. Of course, if they don't want to, they can "go back on our word", that is, take the initiative to apply to the bank before the end of this year.
What is the fixed interest rate? The fixed interest rate is constant and will not change with the change of interest rate until you repay the loan.
The disadvantage is that you can't enjoy all kinds of preferential policies of LPR; Its advantage is that the interest rate will not increase with the increase of interest rate, nor will it be affected by LPR.
What is the floating interest rate? The floating interest rate will change with the passage of time. The LPR will be adjusted every year in 65438+February, and then the loan interest rate for the next year will be determined according to the LPR in 65438+February.
The disadvantage is that I am worried that interest rates will rise in the future, which will bring me higher interest rates and greater pressure; The advantage is that with the change of interest rate, you can enjoy preferential interest rate.
The above is the main content of whether mortgage interest rates is fixed or floating. I believe everyone knows about these contents. I hope this article can give you some help.