At present, some banks have not officially notified to continue to cut their personal loan interest rates, and some state-owned banks have lowered their interest rates to a minimum of 4.6%. It is expected that the state-owned banks in our city will also be generally lowered soon. At present, the downward adjustment of interest rates is the general trend, and major banks have reached a consensus, which is a good measure to benefit people's livelihood.
What does it mean to lower the mortgage interest rate?
The decline in mortgage interest rates means that the housing market is picking up. As we all know, there is a lever adjustment principle in the market. House prices have been high and customers can't afford them, so they will wait and see and wait for good news. If the mortgage interest rate is lowered at this time, it will undoubtedly stimulate customers who just need loans to buy a house, and the house will be sold, so the housing market will pick up and promote national economic growth.
The decline in mortgage interest rates means an increase in consumption. We must know that in order to repay the loan every month, the ordinary living expenses of the buyers are planned. If the mortgage interest rate drops at this time, resulting in a decrease in monthly supply, there will be more funds in the plan, which can be used for daily consumption and improve the quality of life. Increased consumption can also stimulate loans. After all, consumer loan products are very popular now.
The downward adjustment of mortgage interest rate is mainly aimed at newly issued commercial personal housing loans, and the existing commercial personal housing loan interest rate is still implemented according to the original contract. That is to say, if the lower limit of the same city policy and the specific implementation interest rate of the bank are lowered simultaneously with the national policy, the interest expenses of households applying for loans to buy the first ordinary self-occupied housing will be reduced.
The regional characteristics of China's real estate market are obvious. The interest rate and down payment ratio of individual housing loans are determined according to the principle of city-specific policies, and the pricing mechanism of the whole country, cities and banks is adopted. However, in practice, most cities have directly adopted the national policy lower limit, and there are no additional requirements.