The interest rate shall be in accordance with the relevant provisions of the People's Bank of China on the interest rate of individual housing loans.
The interest rate of the first mortgage loan of commercial banks is based on the benchmark interest rate of the People's Bank of China, and fluctuates according to the bank interest rate regulations, depending on the policies implemented at the time of application; The interest rate of two sets of personal housing commercial loans shall not be lower than 1. 1 times the benchmark interest rate of the People's Bank of China. 8.5% discount interest rate reappears the fluctuation of housing loan interest rate in Shencheng, which has always been the most concerned thing for buyers. The benchmark interest rate of 4.90% is usually the reference standard for banks and property buyers, and the minimum loan interest rate of 0.9 times the benchmark interest rate has been going on for nearly a year.
Many banks have raised the discount level of mortgage interest rate.
On 25, 2020, the central bank announced that the interest rate of new commercial personal housing loans was formed by adding the LPR of the corresponding period in the last month as the pricing benchmark; The interest rate of the first set of housing loans shall not be lower than the LPR of the same period, and the interest rate of the second set of housing loans shall not be lower than the LPR of the same period by 60 basis points.
However, loans are usually linked to central bank interest rates, such as mortgages. Although the ratio of floating interest rate to discount interest rate remains unchanged, the repayment of loans changes with the change of the central bank's benchmark interest rate.
Judging from the landing of LPR, many stock banks have once again raised the discount level of mortgage interest rate, and even the first suite has to rise by 20% on the benchmark.
New mortgage policy in 2020: Beijing rises and Shanghai falls.
Beijing: There is little difference from before the policy adjustment.
The newly applied individual housing loan will use LPR as the benchmark for interest rate pricing. After the adjustment, the four major banks of industry, agriculture, China and China Construction implemented the bottom line of interest rate pricing of 1.05 times the benchmark interest rate, and some commercial banks raised it to 1. 1 times.
Take the purchase of the first suite with equal principal and interest repayment as an example, and the loan of 500,000 yuan to 20 yuan as an example: according to the previous benchmark interest rate of 4.9%, the interest of 285,332.86 yuan needs to be paid for equal principal and interest repayment, and 3,272.22 yuan needs to be paid every month. In addition to the impact of the increase in mortgage interest rates on the mentality of buyers, some provinces also encourage the "existing home sales" policy, which will have a great impact on the return of housing enterprises.
New mortgage policy in 2020: Beijing rises and Shanghai falls.
Some banks in Shanghai lowered the interest rate of the first home loan, and the mortgage interest rate is now "turning point".
It is worth noting that Shanghai land auction has implemented new regulations, and industry insiders said that this land auction will bring more changes to the market.
It is understood that the four major state-owned banks still maintain the benchmark interest rate for the first home loan and the policy of floating 10% for the second home loan; Although individual joint-stock banks have not explicitly stipulated that the first home loan should go up, the interest rate of the first home loan implemented in Shanghai is 4.655%, which is equivalent to the interest rate going up. At present, the benchmark interest rate for medium and long-term bank loans is 4.9%. The interest rate of the second home loan will rise by 20%, that is, the annual interest rate will be 5.88%.
The repayment pressure of mortgage loan
Take the benchmark interest rate of the first home loan as an example. The interest rate over five years is 4.9%. If you apply for a commercial loan of 500,000 yuan, the repayment period is 20 years, and the monthly repayment amount is 3,272 yuan. However, according to the benchmark interest rate in recent years, the benchmark interest rate for more than five years is around 6% on average. The cancellation of the discount will inevitably increase the repayment pressure of the mortgage.