First, the benchmark loan interest rate is released irregularly. The current benchmark loan interest rate was released on 2065438+2005124 October, and has not been adjusted so far. LPR will be released once a month from August 20th, 20 19. The LPR of 1 year released in August of 20 19 was 4.25%, and that of 1 year released in February of 2020 was 4.05%, which was 20 basis points lower.
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Secondly, the two interest rate pricing models refer to different pricing standards and pricing calculation methods. For loans priced with reference to the benchmark interest rate, the actual execution interest rate fluctuates with the benchmark interest rate. For loans priced with reference to LPR, the actual implementation interest rate is based on the latest LPR or the same period at a specified time.
Compared with the benchmark loan interest rate, LPR is more market-oriented and can better reflect the changes of market supply and demand.
What impact does the loan interest rate have on individuals after referring to LPR?
Personal business mainly involves mortgage. Compared with corporate loans (LPR lowers interest rates, which can reduce corporate financing costs), personal mortgage loans are greatly affected by real estate regulation, and the probability of interest rate cuts in the short term is low. For example, personal mortgage is priced at floating interest rate, and the floating ratio of loan interest rate is determined to be = benchmark loan interest rate *( 1+ floating ratio), and the loan interest rate changes with the benchmark interest rate. If the floating interest rate is 10%, the loan interest rate in the original mode is 5.335%(4.9%* 1. 1). If the new mortgage loan business is priced according to LPR, the floating ratio will increase to 12% if the interest rate is not lowered.
Under the new mechanism, if the mortgage interest rate = LPR*( 1+ 12%) rises 12%, of course, this ratio is affected by real estate regulation. If the supervision is strict, the floating rate will rise. After the floating interest rate is determined, mortgage loans are generally adjusted according to LPR every year. If LPR falls, the loan interest rate will fall, which can also save some interest. Some bankers have reported that if the LPR changes greatly, it can be adjusted once every six months after the agreement.
It also has a great impact on stock mortgage loans. Under the original mechanism, mortgage interest rate = benchmark loan interest rate *( 1+ 10%) (assuming floating interest rate is 10%), which is usually adjusted once a year. The problem now is that the term of mortgage loan is as long as 20-30 years, and the benchmark interest rate is basically not used in the future, that is, the benchmark interest rate remains unchanged.