What is the lpr interest rate in July 2022?
On July 20, 2022, the loan market quoted interest rate (LPR) was: 1 year, 3.7%, and over 5 years, 4.45%. The above LPR is valid until the next LPR announcement.
According to the data of China Foreign Exchange Trading Center, the LPR over five years has remained unchanged for two consecutive months since it was lowered in May; 1 year LPR remained unchanged for six consecutive months, and the last downward adjustment was 1 in 2022.
What is LPR? LoanPrimeRate is the loan interest rate for the best quality customers, and other people's loan interest rates are based on this. LPR is determined by the interest rate of 18 bank, except for the highest one and the lowest one, and the remaining average is it, which is updated on the 20th of each month. If the market is short of funds, interest rates will rise, and vice versa.
Therefore, this LPR interest rate depends on the process of supply and demand balance in a market, which does not mean that the interest rate will definitely fall. On the contrary, market-oriented pricing may lead to the decline and rise of this interest rate.
The report believes that although the LPR interest rate data released in July has not been lowered, it has at least maintained a low interest rate. This shows that the interest rate will not be lowered blindly and frequently, and it is generally oriented to effectively serve the real economy. In the second half of the year, with the resumption of epidemic prevention entering a new stage, the space for LPR to fall is decreasing. It will also have a relatively obvious impact on mortgages.
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