1, which is the interest rate adjusted by the bank at the beginning of the following year.
2. It is an annual adjustment, that is, the new interest rate is adjusted and implemented every repayment year.
3. Both parties agree that the new interest rate level will generally be implemented in the month after the bank's interest rate adjustment.
China people like to buy houses, which is very famous all over the world. As long as they have money, they want to buy a house. However, due to high housing prices, more than 90% of families choose loans to buy a house. However, after buying a house, people found that the mortgage pressure of more than 4-5 thousand yuan per month is indeed relatively large. Especially the previous mortgage interest rate of more than 5.88%, if the loan is 30 years, after the mortgage is paid off, the interest expenses of the buyers can go to buy another house.
Since the second half of last year, the Bank of China has continuously reduced RRR and interest rates, and the bank deposit and loan interest rates have all decreased. At the same time, the mortgage interest rate has also dropped a lot, from the previous 5.88% to the current 4.25%. In this way, those families who want to buy a house now can really save a lot of money. But for the previous property buyers, they still have to implement the original mortgage interest rate, and they can't enjoy the preferential policies on the current interest rate, and the monthly supply pressure has not been alleviated.
As a result, many people who bought houses before suggested that the mortgage interest rate was so high before. Is there any way to reduce the mortgage interest rate now? In this regard, we think it is understandable that the original buyers want to lower the mortgage interest rate and reduce the repayment pressure, but the mortgage contract has been signed before and the contract cannot be changed. However, there are still three ways.
First, it depends on whether the mortgage interest rate is fixed or floating. If the mortgage contract you signed with the bank stated that it was a fixed interest rate, then the original mortgage interest rate of 5.88% has been implemented. And if the mortgage contract you signed with the bank says floating interest rate. Although it is impossible to lower the mortgage interest rate this year, you can enjoy the new interest rate from next year, and the repayment pressure will be much reduced.
Second, repay the mortgage in advance. Nowadays, many people think that the bank mortgage interest rate has dropped so much, and it is still a loss according to the previous mortgage interest rate, so they choose to pay off the mortgage in advance. Before, banks didn't care much about repaying loans in advance. If the customer repays the mortgage in advance, there is no need to pay liquidated damages.
Now, in the face of the tide of early repayment, many banks have begun to ask customers to pay contract liquidated damages. If your economic conditions permit, you can choose to repay the mortgage in advance, and you don't have to work for the bank any more.
Third, sell the current house and buy a new house, so that you can enjoy the new mortgage interest rate. But there will be risks from two aspects: First, in the long run, the current mortgage interest rate is at a historically low level, which means that the mortgage interest rate has been higher than it is now for most of the history. In case the mortgage interest rate starts to rise again after you sell your house, it's not worth the candle.
The other is that if you sell your old house and buy a new house, you won't enjoy the interest rate of the first home loan, but only enjoy a relatively low mortgage interest rate, and the process of buying and selling this house is long and risky. Therefore, unless your previous mortgage interest rate reaches above 6%, it is not cost-effective for buyers.
Since the beginning of this year, the interest rate of bank mortgage has dropped again and again, mainly to encourage everyone to buy a house. And those who have already bought a house are still under greater mortgage pressure. So, is there any way to lower the mortgage interest rate? Look at your mortgage contract first. If the mortgage contract says floating exchange rate, you can enjoy the new mortgage interest rate early next year.
In addition, if economic conditions permit, the mortgage can be paid off, so there is no pressure to repay the loan. Of course, you can also sell your old house and buy a new house to enjoy the new mortgage interest rate. However, there are many uncertainties and risks in this way, so we should choose carefully.