On the last weekend of 20 19, I still didn't have a rest. Overtime is the daily routine of editing dogs.

Yang Ma, Yang Ma, always likes to release heavy policies on weekends. The last amplification was on August 25th, when the loan interest rate was raised from the benchmark interest rate to the loan market quotation (LPR). detail

Today, on February 28th, 19, Ma Yang issued the No.30 document announcement of the People's Bank of China, announcing the conversion of the existing floating rate loan pricing benchmark to LPR.

Let's review the previous policy. 10 Before June 8, our commercial loan interest rate for house purchase was determined by the benchmark interest rate+floating ratio. The benchmark interest rate is 4.9%, and the first suite generally rises by about 15%, which is 5.64%.

On August 25th, it was stipulated that after June 8th of 10, the mortgage interest rate will be based on LPR, and the benchmark interest rate will no longer be implemented. The first suite is not less than LPR, the second suite is not less than LPR plus 60 basis points, and the commercial premises (shops, office buildings and business apartments) are not less than LPR plus 60 basis points, and the provident fund remains unchanged.

LPR is published on the 20th of every month, with LPR 65438+ 10+4.85% for more than five years, 165438+ 10+4.8% for February.

One of the regulations on August 25th is that the loan before June 8th, 10, will still be implemented according to the old policy.

Today, this new policy is aimed at the existing floating interest rate loans, that is, the old loans before, and it should also be changed to LPR-based forms.

Interpretation of the new deal

I know there are many things you don't understand, so I won't post the original text. I will turn it into a popular saying for everyone to understand.

1. Who is affected?

Stock floating rate loans refer to loans that were signed before June 65438+1 October1in 2020 based on the benchmark interest rate according to the old policy, and were issued or signed but not approved (excluding provident fund loans). From June 65438+1 October1in 2020, the loan contract can no longer be signed according to the old policy.

In other words, if you are a provident fund loan, or a new commercial loan signed after 10 year10.8, based on LPR, then you have nothing to do. People who used to be based on the benchmark interest rate have been affected!

2. When will it be changed?

From March, 2020, financial institutions should negotiate with customers of old policy loans. In principle, the conversion should be completed before August 3, 20201,and the bank will contact you by phone or SMS.

3. What should I change it to?

There are two ways to choose, but only once! In the last repricing cycle, the floating-rate loan of inventory shall not be converted.

First, the original interest rate will be changed to LPR as the benchmark for bonus points (bonus points can be negative), and the number of bonus points will remain unchanged during the remaining term of the contract. Other loans except mortgage loans will be determined by both borrowers and borrowers through consultation. The appreciation of mortgage should be equal to the difference between the original contract interest rate and the LPR of 20 19+02 in June. After the transfer, your interest rate will be equal to the original interest rate before the first repricing date.

On the first repricing date, the interest rate will be determined by recalculating last month's LPR and plus points. Both the repricing period and the repricing date can be re-agreed, and the shortest repricing period is one year.

In other words, after the conversion, your interest rate and the original interest rate will remain unchanged, but if the LPR changes later, your interest rate will also change, but it will remain unchanged.

For example, if your original mortgage contract has gone up 15%, the benchmark interest rate is 4.9%, and your mortgage interest rate is 4.9x (1+15%) = 5.64%.

20 19 years, 5438+June 2002, the LPR of more than five years is 4.8%, so your bonus point is 5.64%-4.8%=84 basis points. (One basis point is 0.0 1%)

If it is changed in March 2020, and the repricing date is 65438+1 October 1 year, your interest rate will be 5.64% 1 from March 2020 to February 2020.

Suppose that the LPR is 4.7% in June 5438+February 2020, and the interest rate is LPR+ plus point =4.7%+84 basis points = 5.54% in June 65438+ 10/2020. Every year.

The second is to directly convert it into a fixed interest rate. The mortgage should be converted to the original recent level, and how much other loans should be converted is up to you to negotiate with the bank.

For example, your original benchmark interest rate rose by 65,438+05% to 5.64%. After converting into a fixed interest rate, your mortgage interest rate has been 5.64% until you repay the loan.

answer questions and remove doubts

1. Since the interest rate is the same before and after the conversion, why should we convert the previous loan?

According to the central bank's answer, at present, 90% of new loans have been priced with reference to LPR, and the previous stock loans can not reflect the changes in market interest rates in time, which is not conducive to protecting the rights and interests of both borrowers and lenders. In order to further deepen the reform of LPR, this announcement is issued.

To put it bluntly, everyone treats them equally, uses a new standard uniformly, is convenient for management, and can also follow the market interest rate.

My previous mortgage interest rate was discounted. Is there no discount after the conversion?

Please note that there is a saying in the original policy that "bonus points can be negative". If your original interest rate is discounted, your bonus points will be negative. Even if you follow the new method of LPR+ bonus points, you still enjoy interest rate concessions because your bonus points are negative.

For example, if you give a 20% discount, the benchmark interest rate is 4.9%, your interest rate is 4.9% x 0.8 = 3.92%, and the LPR of 20 19 and 12 for more than five years is 4.8%, and your bonus point is 3.92%-4.8%=-0.88%, that is, minus 88.

Suppose your repricing period is one year, and the repricing date is 65438+ 10 1. Suppose that the LPR will be 4.7% after five years in 2020. From 202 1 65438+1October1,your interest rate will be LPR+ plus = 4.7%.

3. Which way is more cost-effective?

The first way, simply understood, is to change with the change of LPR. If LPR falls in the future, your mortgage interest rate will be lower, which can save more interest. The second method, fixed interest rate, is cost-effective only when LPR becomes higher and the calculated interest rate exceeds the original interest rate.

Recently, there is a trend of interest rate reduction at home and abroad, including the LPR with a term of more than five years, which has also dropped from 4.85% in June to 4.8% in June. I personally estimate that monetary policy changes will continue to be loose in the later period, so if interest rates are further reduced, it is more cost-effective to choose the first method, with the shortest cycle of one year.

I will do it in March next year. Is it different from August?

The processing time does not affect the interest rate. You can communicate well with the bank and choose your own convenient time.

5. What is the impact of this policy on the property market and housing prices?

When the policy was introduced in August, I said that the interest rate remained basically unchanged, which had little impact on housing prices. This time, it is aimed at the stock loan, that is, the person who bought the house loan before, and the interest rate is basically kept at the same level, so it still has little impact.

If you want to buy a house, you should consider whether the property itself is suitable for you. Compared with the change of mortgage interest, the soul question is, have you got your down payment?

If you don't know how to choose a house, or there is anything you don't know about the policy, please come to me for one-on-one VIP service.