The interest rate is 6.37, and the published LPR in June 2020 is 4.8%, 4.75% in February-March and 4.65% in April. After the exchange, monthly payment can be reduced. According to the trend and the overall economic trend, the interest rate shows a downward trend, and it is more cost-effective to switch to LPR. Of course, once selected, it cannot be changed, and there is still a risk that interest rates will rise for a long time to come.

Whether the mortgage interest rate 1.2 times can be adjusted or not. The state has repeatedly issued macro-control policies on housing prices, such as adjusting deposit and loan interest rates and adjusting bank reserve ratio, and requires all localities to formulate corresponding implementation rules. Major banks have also introduced a series of clauses such as canceling the interest rate concessions for the first suite and increasing the down payment ratio.

Extended data:

From March 1 2020, financial institutions should negotiate with customers of existing floating interest rate loans on the conversion terms of the pricing benchmark, and convert the interest rate pricing method agreed in the original contract to LPR as the pricing benchmark (the plus point can be negative), and the value added will be fixed during the remaining period of the contract; It can also be converted into a fixed interest rate.

On August 25th, 2020, 12, five state-owned banks, namely ICBC, China Construction Bank, Agricultural Bank of China, Bank of China and Postal Savings Bank, announced at the same time that individual housing loans within the range of batch conversion would be uniformly adjusted to the pricing method of LPR (loan market quotation rate) according to relevant rules.

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