In recent years, the state has been advocating that "houses are for living, not for speculation." The current direction of housing regulation has obviously changed from housing prices to people's livelihood. I have recently seen the news about an increase in the first home loan interest rate. Let’s take a look at what the first home loan interest rate increase means. By the way, let’s talk about the 15% increase in the first home loan interest rate and the impact of the first home loan interest rate increase.
1. What does the increase in first-home loan interest rates mean?
1. What does the increase in first-home loan interest rates mean? The increase in first-home loan interest rates refers to the increase in the basic interest rate of housing loans in accordance with the requirements of the People's Bank of China. China's first home loan interest rate is uniformly stipulated by the People's Bank of China, and each commercial bank can float within a certain range when implementing it.
For example, an interest rate increase of 10% refers to the conversion rate of equal principal and interest or equal principal, which is 0.1 percentage point more than the base interest rate.
2. According to Article 2 of the "Personal Housing Loan Management Measures": Personal housing loans (hereinafter referred to as loans) refer to loans issued by lenders to borrowers for the purchase of ordinary housing for self-use. When a lender issues a personal home loan, the borrower must provide a guarantee. If the borrower is unable to repay the principal and interest of the loan when due, the lender has the right to dispose of its collateral or pledged property in accordance with the law, or the guarantor shall bear joint and several liability for the repayment of the principal and interest.
3. The increase in first-home loan interest rates directly leads to people who need to buy a house, if they use a loan to purchase, they will incur higher interest than before.
2. A 15% increase in first-home loan interest rates
A 15% increase in first-home loan interest rates is a major event related to people’s livelihood. It means that home buyers need to pay more attention when purchasing a house. In the past, you had to pay an extra amount of interest. The following is a detailed introduction to the policy of increasing the interest rate on first home loans by 15%.
1. On August 25, the central bank issued an announcement stating that in order to resolutely implement the positioning of "houses are for living in, not for speculation" and the long-term management mechanism of the real estate market, it will reform and improve the loan system. In the process of forming the market quoted interest rate (LPR) mechanism, ensure the effective implementation of regional differentiated housing credit policies and maintain the basic stability of personal housing loan interest rates.
2. Starting from October 8, 2019, the interest rate for newly issued commercial personal housing loans will be based on the loan market quotation rate of the corresponding period in the past month as the pricing benchmark plus points. Among them, the first set shall not be lower than the LPR of the corresponding period, and the second set shall not be lower than the LPR of the corresponding period plus 60 basis points. The interest rate of the existing personal housing loans shall still be based on the original contract.
3. It is also reported that starting from September 5, the interest rates of some mortgage loans in Shenzhen area of ??China Merchants Bank have been linked to LPR. The execution interest rate is 5.15% for the first set and 5.45% for the second set, while the previous interest rate for the first set was 5.145 %, second set 5.39%. Compared with previous data, first home loan interest rates increased by 15%. (