On August 3, 2023, the People's Bank of China and the State Financial Supervision Administration issued the Notice on Matters Related to Reducing the Interest Rate of the First Home Loan, which made it clear that from September 25, 2023, the borrower of the first home commercial personal housing loan can apply to the loan financial institution, and the financial institution will issue a new loan to replace the first home commercial personal housing loan or negotiate to change the interest rate level agreed in the contract.
The increase rate of the loan market quotation rate (LPR) shall not be lower than the lower limit of the interest rate policy of the first commercial personal housing loan in the original loan issuing city.
The adjustment of the interest rate of the first housing loan in stock is determined according to the current LPR (based on the quoted interest rate in the loan market). According to the notice of the People's Bank of China, the adjusted LPR loan interest rate level shall not be lower than the lower limit of the first commercial personal housing loan interest rate policy in the original loan issuing city. Therefore, this adjustment does not involve LPR, and the main adjustment is the addition and subtraction points.
Take Huizhou City, Guangdong Province as an example. Since the reform of 20 19,10,8 lpr, the lower limit of the interest rate policy for the first commercial personal housing loan in this city is as follows: from 20 19,10,8 to May 2022, 17, the lower limit of the interest rate for the first suite is lpr; From May 8, 2022 to May 8, 2023, the lower limit of the first set of interest rates is LPR-20BP；; ; From 65438+1October 18 in 2023 to now, the first set of lower interest rate limits implemented is the lower limit of phased cancellation.
At present, the LPR is 4.2%. Let's take an example: if you borrow money from 20 19 10 to May 7, 2022, the lower limit of the interest rate for the first home is LPR+0BP, and your loan interest rate can be adjusted to 4.2%+0BP, that is, 4.2%; For loans from May 8, 2022 to October 7, 2023/KLOC-0, the lower limit of the interest rate for the first home is LPR-20BP, and the current loan interest rate can be adjusted to 4.2%-20BP, that is, 4%.
At present, it is not clear how to adjust the loan interest rate before 20 1910.8, and the lower limit of the national interest rate before 20 1910.8 is basically 0.7 times of the benchmark interest rate. Then if your benchmark loan interest rate was 4.9%, your current loan interest rate can be adjusted to 4.9%*0.7=3.43%.