As the "money bag" of real estate market regulation, every change in bank housing loans attracts special attention.

After experiencing the "belt-tightening" days in the first half of the year, since the second half of the year, the central bank, China Banking and Insurance Regulatory Commission and other departments have frequently spoken out and released positive signals to guide financial institutions to meet the needs of real estate companies and individual home buyers. Reasonable credit needs.

On the 6th, the central bank even announced a reduction in reserve requirements, deciding to lower the deposit reserve ratio of financial institutions by 0.5 percentage points on December 15 (excluding financial institutions that have implemented a 5% deposit reserve ratio),* **A total of approximately 1.2 trillion yuan of long-term funds will be released.

Will the real estate industry bid farewell to the "tight days"?

Resident housing loan lending is picking up, focusing on supporting first-time homes

“I work in Beijing and buy a house in Tianjin. I had an interview last Friday to sign the application, and it was approved at noon this Monday, and the loan was released in the afternoon, right? Will it be relaxed at the end of the year?”

“I bought a house in Hangzhou, and why are the loans so fast recently? When I signed online, the manager said it would be at least next year, so I took the plunge. I didn’t expect that I would start to lose money so soon. ”

“Buying a house in Chengdu, I had an interview on November 24th, and the loan was successful on December 5th. My friends and colleagues said that I was too fast.”

I got loans from many people. Home Buyers has learned that banks have significantly accelerated their mortgage lending recently. A staff member of the Beijing branch of a state-owned bank also said: "Currently the bank is working hard to digest the applications that have been queued up in the early stage, but the overall approval speed has indeed accelerated. In September, we expected the approval time to be around 3-6 months. If everything goes well now, the time will be It can probably be shortened to one month."

This is also reflected in the data. The latest data released by the central bank on November 10 showed that at the end of October 2021, the balance of personal housing loans was 37.7 trillion yuan, an increase of 348.1 billion yuan that month, an increase of 101.3 billion yuan from September, and financial institutions have significantly accelerated their real estate investment.

However, the above-mentioned bank staff emphasized that although the quota is loose, the approval process is still strict, and the approval of bank flow, down payment source channels, reasonable income proof, etc. is only strict; currently, bank personal mortgage housing loans The main support is the rigid demand for first-time housing, and the support for incremental funds in the second-hand housing market is still very limited.

A buyer who bought a second-hand house in Chengdu said: "The second-hand house loan has not been extended for three months, and the intermediary keeps saying that the bank has no limit."

"The bank interview will be held on October 13 , The loan will be approved on November 10. The bank said that the loan would be very slow until the end of the year, but it seems that it issued a notice last month and the loan at the end of the year will not be affected. "A second-hand house buyer in Qingdao said, "But second-hand housing. Housing is still much slower than new housing. The intermediary said that the loan approval cycle for new housing is basically less than a week.”

Data released by the China Banking and Insurance Regulatory Commission on November 19 also supports this phenomenon: At the end of October, banking financial institutions. Real estate loans increased by 8.2% year-on-year and remained stable overall. More than 90% of personal housing loans were used to support first homes.

On December 3, a spokesman for the China Banking and Insurance Regulatory Commission also said: At this stage, according to different situations in various places, we must focus on meeting the mortgage needs for first homes and improved housing, and rationally issue real estate development loans and merger and acquisition loans, and increase Increase support for affordable rental housing and promote the stable and healthy development of the real estate industry and market.

“This is the first time this year that the financial system has mentioned credit support for improved housing, which has a very strong signaling significance.” Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, believes that the demand for improved housing purchases has continued We will face better market opportunities in the future.

“It is not ruled out that the down payment ratio for second-home purchases and large-scale home purchases will be reduced, including some cities will fine-tune the policy of recognizing a house and subscribing for a loan, such as adjusting it to 'recognizing a house without subscribing for a loan', etc. This has reduced the credit constraints on home purchases. ”

The financing of real estate companies has been unfrozen, releasing stable expectations

Recently, the trend of continued tightening of loans to real estate companies has also ushered in a change.

Previously, under the constraints of the "three tiers and four tiers" regulatory hard indicators and the pressure of risk exposure of individual real estate companies, large state-owned banks, joint stock banks, and small and medium-sized banks have all greatly increased their provision coverage ratios. . However, with the frequent implementation of policies to "stabilize the property market", real estate company financing has also accelerated its recovery. Recently, the issuance of bonds by real estate companies, mainly private real estate companies, has clearly shown signs of "opening the floodgates."

On December 5, Country Garden Group announced that it plans to apply to the exchange for issuance of supply chain ABS products in the near future; on the same day, Gemdale Group announced that an ABS has been approved for issuance and is planned to be issued in early 2022. On the 3rd earlier, the application of a subsidiary of Logan Group for the public issuance of 4-year corporate bonds to professional investors in 2021 was reviewed and approved by the China Securities Regulatory Commission and the Shanghai Stock Exchange.

According to media reports, real estate loan lending in November continued to maintain a trend of both month-on-month and year-on-year increases based on the sharp rebound in October. It is initially expected to increase by approximately 200 billion yuan year-on-year.

“Based on the data from October and November, real estate loans have gradually picked up and can better meet reasonable needs such as rigid needs.” Wen Bin, chief researcher of Minsheng Bank, said that this will not only help stabilize the real estate market To achieve healthy development, it is also very necessary for banks to prevent their own credit risks.

However, it is important to note that the restorative marginal warming of credit policy does not mean a fundamental change in policy.

“The changes in credit policies are aimed at maintaining the stability of the real estate market, rather than encouraging real estate speculation.” Yan Yuejin emphasized that the relaxation of policies in various places is mainly for the stable development of the real estate market. In particular, we should prevent the lack of follow-up of financial supporting policies from causing the property market to become too deserted.

He said that overall, the current relaxation of credit policies is expected to continue until the first half of next year. For local governments, as credit policies are relaxed, they must be wary of possible real estate speculation.

“Judging from the subsequent adjustments to the credit policies of various cities, it is not expected that there will be a comprehensive relaxation, and it is more likely to be a phased, regional, and targeted adjustment.” 58 Anjuke Real Estate Research Institute Branch Dean Zhang Bo also believes that considering the current real estate market environment, there is still room for fine-tuning of mortgage loans in various regions. For various cities, the trend of property market differentiation will continue.