Let me explain the definition of equal principal and interest to you first, then tell you the calculation method, and finally tell you the housing market in China. 1. Equal principal and interest refers to a repayment method of housing loan, that is, the loan with the same amount (including principal and interest) is repaid every month during the repayment period, which is different from the average principal. 2. The formula for calculating the monthly repayment amount is as follows: [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]≤[( 1+ monthly interest rate )× repayment months-1] 3. Commercial loans are repaid in 336,5438+00 years. Fourth, if it is a provident fund loan, according to the current benchmark interest rate of 3.25, the monthly payment is 3,224.73 yuan, and the total interest is 56,967.35 yuan. Fifth, it can be seen that provident fund loans can save interest. In fact, in terms of the ratio of mortgage stock to GDP, China is far lower than the United States and Japan. At present, the asset-liability ratio of China's housing sector is also lower than that of Japan and the United States. In 20 14 years, it was 12.2% in China, 15.6% in Japan and 16.9% in the United States. The above situation shows that the leverage ratio of China's residential sector is not very high, so it is necessary to draw a conclusion that overall deleveraging is necessary. From the dynamic point of view, since 20 16, the growth rate of mortgage is really high. According to statistics, some monthly incremental loans are basically mortgage loans. However, 20 16 has a special situation that needs attention, that is, the impact of local government bond replacement. After the introduction of regulatory policies, the possibility of high-speed mortgage growth as before is greatly reduced, and the growth rate of 20 17 mortgage will definitely decrease. Another noteworthy data is the ratio of house price to income. In fact, in recent years, except for the ratio of house price to income in first-tier and individual second-tier cities, the other 50 large and medium-sized cities have basically declined slightly. This means that from the perspective of many cities, the burden of residents buying houses has been reduced. Regardless of static or dynamic analysis, the leverage ratio of the housing sector is generally at a reasonable level. In the next five to 10 years, the growth rate of urbanization in China will be relatively high, which will bring a lot of new housing demand. At present, the per capita income of China is also rising obviously, which makes the residents' demand for improved housing increase continuously. Faced with the growing demand for self-occupation and improved house purchase, finance cannot meet the basic housing needs of ordinary residents without mortgage loans. It makes sense for farmers to buy houses in cities, young people to get married and buy houses, and citizens to increase their income and improve their living conditions. It is absolutely necessary for the financial sector to provide reasonable credit. Therefore, it is not possible to require the residents' departments to deleverage as a whole immediately because the housing prices in some areas are rising too fast, which may inhibit reasonable and normal demand. The policy needs to consider this issue carefully, and it can't accidentally hurt normal demand in order to curb local bubbles, leading to premature death of "destocking". Housing credit policy should be "clear about love and hate". What should be suppressed should be suppressed vigorously, and what should be supported should be fully supported. On the one hand, it is necessary to increase efforts to support the demand for self-occupation and meet the reasonable leverage requirements of first-time buyers and improved buyers; The demand for the first set of ordinary self-occupied housing loans should still be given priority and preferential treatment; In the next stage, moderately control the scale of improved housing loans. On the other hand, we are determined not to ask any financial support for real estate speculation, strictly manage investment housing purchases, restrict purchases and loans, and greatly raise the threshold for obtaining financial support. The "punitive" down payment ratio and interest rate of two or more mortgages; Actively reduce the proportion of non-ordinary housing and individuals applying for commercial housing purchase loans, and strictly determine their down payment ratio and interest rate; For those who have the characteristics of speculative house purchase, the loan for house purchase will be suspended. Banks should upgrade the loan review measures and strengthen the screening of speculation and fake divorce, such as investigating the transfer frequency of mortgaged houses, verifying the bill information of utilities such as water, electricity, coal and broadband, and verifying the property and neighborhood Committee where the applicant lives. At the same time, the regulatory authorities should strictly manage the transaction demand from tax and other aspects, such as raising the tax rate of speculative house purchase and shortening the tax exemption period, increasing the investigation and serious handling of off-site fund-raising and fraud provided by intermediaries, and strengthening the window guidance of bank mortgage loans.