If the conversion is successful, it cannot be changed.
Loan market quoted interest rate, referred to as LPR, is the loan interest rate executed by commercial banks for their best customers, and other loan interest rates can be generated by adding or subtracting points on this basis. The centralized quotation and release mechanism of loan market quotation is based on the quotation of the quotation bank's own loan market, and the publisher is designated to calculate the quotation, form the average quotation interest rate of the quotation bank's loan market quotation and announce it to the public. At present, the quoted interest rates of 1 year and 5-year loans are announced to the public.
The People's Bank of China authorized the National Interbank Funding Center to be the designated publisher of the quoted interest rate in the loan market. On the 20th of each month (before 9: 00), the quotation shall be submitted to the National Interbank Funding Center in steps of 0.05 percentage points. The National Inter-bank Funding Center will calculate the LPR by removing the arithmetic average of the highest and lowest quotations, and round it to the nearest integer multiple of 0.05%. It will be announced at 9: 30 on the same day, and the public can inquire at the National Interbank Funding Center and the website of the People's Bank of China.
What should I do if the LPR conversion point is wrong? Can I change it?
You can't change it. You can only change it once.
Pricing benchmark can only be converted once, and cannot be converted again after conversion. In the last repricing cycle, the floating-rate loan of inventory shall not be converted. In principle, the conversion of the pricing benchmark of floating rate loans should be completed before August 3, 20201.
In fact, since last June 10, LPR has been lowered three times, and the latest offer of LPR with a term of more than five years is 4.65% on April 20th. The downward adjustment of LPR is conducive to reducing the burden on mortgage customers and stimulating consumption.
Although LPR is not perfect, with the advancement of interest rate marketization reform, LPR will be more and more closely related to our lives, which will directly affect the money bags of loan customers.
What should I do if I transfer to LPR by mistake?
Can I switch to a fixed interest rate after switching to LPR? This is divided into two situations.
First of all, what should I do if I am transferred to LPR?
According to the regulations of the central bank, borrowers can choose LPR or fixed interest rate. However, under the pressure of assessment, some banks converted the mortgage interest rate of customers into LPR in batches.
The deadline for LPR conversion stipulated by the central bank is August 3 1, with 20 days left. If you find that the bank has transferred your mortgage interest rate to LPR without consulting you and obtaining your consent, you want to convert it into a fixed interest rate. At this time, you should contact your bank before August 3 1 and change it to a fixed interest rate.
Will the bank disagree? Don't worry about this, the bank may advise you not to change the fixed interest rate, but if you insist, the bank can only agree, because this is the choice given to you by the central bank.
Second, what should I do if I turn to LPR by mistake?
However, if you choose LPR yourself, as the topic owner said, even if it is a mistake, there is no way out of this situation. Because the central bank only provides one choice opportunity, whether you choose LPR or fixed interest rate, once you choose, there is no way to change it.
However, judging from the interest rate trend in recent years, it is more likely to choose LPR to cut interest rates. As for how the interest rate will change after a long time, no one can say for sure. At that time, if the interest rate enters the upward cycle and rises sharply, if we have the ability, we can also settle the loan in advance to avoid the upward risk of interest rate.
3. Which is better, fixed interest rate or LPR?
Choosing a fixed interest rate can avoid the risk of rising interest rates. No matter how LPR changes in the future, your mortgage interest rate will remain unchanged until the loan is paid off. Of course, if LPR falls, you will not enjoy the benefits of interest rate cuts.
Choose LPR because "loan interest rate =LPR+ plus point value", and the point value is fixed. If LPR falls in the future, your mortgage interest rate will also fall. Of course, if LPR goes up, your mortgage interest rate will also go up.
Therefore, there is no certain rule about which is better, fixed interest rate or LPR. The key lies in your judgment on the future interest rate trend, and what suits you is the best.
According to the regulations of the People's Bank of China, you can choose fixed interest rate or floating interest rate, but only once.
Of course, choosing fixed interest rate and floating interest rate L P R has its own advantages and disadvantages. It doesn't matter if you choose, just treat it with a normal heart.
The misoperation you said should be that you are not satisfied with the changed LPR repayment method. Originally, LPR has two repayment methods: one is fixed interest rate; One is floating interest rate. Both have their advantages and disadvantages. There is no right or wrong. You can sign either one. After signing the contract, you will have a chance to change it. So what's the difference between these two methods?
Fixed interest rate repayment method:
Choosing a fixed interest rate means that when LPR rises or falls, it will not affect the repayment amount. It is basically similar to the previous benchmark interest rate repayment method. Although this method can avoid risks, it does not enjoy the benefits of interest rate cuts. Suitable for conservative customers and people seeking peace of mind.
Floating interest rate repayment method:
Floating interest rates are a bit like the stock market, with ups and downs. If LPR collapses in the future, the monthly repayment will be reduced. On the contrary, if the house price of LPR rises, the monthly repayment amount will increase.
If you think LPR will decrease in the future, choose floating interest rate, if you think interest rate will rise, choose fixed interest rate. But the gap should not be too big in the future. So there is no right or wrong.
The key is what is the annualized interest rate of the loan that has not been converted before, and what is the annualized interest rate after the misoperation is converted into the floating interest rate LPR. If the converted interest rate is lower than before, it is more cost-effective than before. Congratulations on your misoperation. On the contrary, it will lose money. Generally speaking, the current floating interest rate of LPR is downward, which is beneficial to consumers and the real economy, as well as to social development and prosperity.
The wrong operation is hard to convince, because the operation needs to be confirmed, so I can only say regret. Negotiate with the bank
Call the customer service manager, and he will give you a link to reapply and follow the prompts to re-operate.
Turn around. Turn around. Now no one knows what will happen in the future.
Complain to the central bank. Say you accidentally pressed it.
The key to changing the current interest rate depends on the change of LPR interest rate in the future;
1, the interest rate remained unchanged in that year, no matter what your previous interest rate was. 20-year LPR interest rate = loan contract interest rate before conversion-2065438+LPR released in February 2009 (4.8%); The added value can be negative; If your mortgage interest rate is 5% before conversion, the converted data is still 5%=4.8%(LPR, monthly change data) +0.2% (fixed value); If the interest rate before conversion is 4.6%, after conversion, 4.6%=4.8%-0.2%.
2. Since 1990s, China's benchmark loan interest rate has also dropped from 13% to 4.65%. In the era of low interest rates, it will be a general trend for global interest rates to continue to fall.
Therefore, whether the LPR is wrongly transferred or the bank transfers it to you, there is no need to toss after figuring out your own account.
No one can determine the future interest rate. Maybe you made the right choice by mistake. Calm down. Even if the value of LPR will increase later, after all, your spread is fixed and should be relatively low, which will not have a great impact on you. In case the LPR value becomes lower and lower in the future, then your operation is not very NB.
Regret changing the mortgage to lpr. Can I change it back?
Each user has only one chance to change the mortgage interest rate. If it has been changed to LPR fixed interest rate or LPR floating interest rate, it cannot be changed back after modification. If the user is a bank and converts it into LPR interest rate in batches, there is an opportunity to change the interest rate. The changed interest rate is still LPR fixed interest rate and cannot be changed to the previous mortgage interest rate.
Mortgage interest rate is generally LPR floating interest rate or LPR fixed interest rate. For the newly applied mortgage, the interest rate is unified as LPR floating interest rate.