The mortgage has been priced according to LPR, which means that the lender's mortgage has converted the fixed interest rate into LPR interest rate, adding some pricing, so the loan page will show that the loan has been priced according to LPR. LPR is the best interest rate for loans, which changes every month, so loans are priced with LPR plus points, which means floating interest rates.

For lenders, it will be beneficial to choose LPR as the pricing interest rate for medium and long-term loans.

How much can I save by changing the mortgage interest rate from 5.88 to lpr?

There are two things to be determined when the mortgage interest rate changes to LPR, one is the added value, and the other is the re-pricing date.

1, plus the point value, is the difference between the current mortgage interest rate and the current LPR 65438+February, and it is also the key point to determine the latest mortgage interest rate. If the mortgage interest rate is 5.88, this level means that the benchmark interest rate will rise by 20% from 4.9%. Based on the February LPR interest rate of 4.8% of 108, the added value is 108.

2. The repricing date, some are 65438+ 10/month 1 year, some are the release date of the loan contract, depending on the regulations of each bank. For example, recently, the five major state-owned banks announced that they would transfer the existing loans that were not transferred to the pricing benchmark on the 25th to LPR in batches. Among them, the repricing dates of four banks were determined according to the original loan contracts, while the repricing dates of China Industrial and Commercial Bank were determined according to the loan issuance dates.

For example, if ICBC's mortgage is converted into LPR in batches and the loan issuance date is July 25th, the new loan interest rate will be determined according to the current LPR on July 20th of the following year, and the interest rate will remain unchanged during the pricing period. As long as the LPR does not exceed 4.8, changing the mortgage of 5.88 to LPR can save money, but not much, ranging from a few dollars to dozens of dollars a month.

Personal mortgage has changed. Can LPR change back?

If it is automatically converted by itself, it cannot be changed back, but if the bank transfers LPR in bulk, this situation can be changed back. After all, this is not everyone's choice, but the bank is operating. According to the regulations of the five major banks, if there is any objection after batch conversion to LPR, you can negotiate with the bank to cancel the change within the specified time and apply for changing the pricing benchmark method of the original contract, that is, floating up and down according to the benchmark interest rate of the central bank.