What does floating interest rate of mortgage mean?
The floating interest rate of mortgage refers to the benchmark interest rate of the bank as the basic interest rate during the mortgage period, and then the bank determines whether to increase or decrease the percentage point according to the benchmark interest rate and the credit qualification of the lender. When the benchmark interest rate of the bank changes, the mortgage interest rate will also change with the change of the base interest rate, which is what we call the floating interest rate of mortgage.
When is the mortgage lpr interest rate adjusted every year?
The interest rate of LPR mortgage loan is adjusted every year 1 month 1 day. The interest rate of LPR will last for one year, and will be recalculated on the basis of 65438+ 10/month 1 in the following year. The minimum interval between two repricing dates is one year. Although LPR quotes every month, the mortgage interest rate will not be adjusted every month. From the first repricing date, the interest rate level of each repricing date is recalculated and determined by the added value of LPR and conversion date in the corresponding period of the latest month, and remains unchanged during a repricing period.