How often does the mortgage interest rate of LPR adjust?
LPR is the average price quoted by the bank before 9: 00 on the 20th of each month (postponed in case of holidays) 18, excluding the highest and lowest prices. The central bank entrusts the National Interbank Funding Center to be responsible for statistics and release. This is the benchmark for everyone's loan. At present, when people borrow money according to this benchmark, banks are floating or discounting.
The fixed interest rate is converted into LPR interest rate, so after this mortgage conversion, it is LPR+ plus point. Plus point = previous fixed interest rate-adjusted LPR interest rate is 4.8%.
For example, if you used to be 4.5%(5%: 10% interest rate), it will be 4.5%-4.8%=-0.3% after conversion to LPR. In other words, this -0.3% is a bonus for your future LPR. The converted loan interest rate is LPR+(-0.3%), and your loan interest rate changes with the change of LPR.
It is worth noting that more people's current interest rates are not discounted, so generally speaking, everyone's bonus items are positive.
For example, your previous loan interest rate was 5.50%(5%: interest rate increased 10%), and if you add 5.5%-4.8%=0.70%, the converted loan interest rate will be LPR+0.70%.
The benchmark interest rate is determined by the central bank, and the current benchmark interest rate is 4.65%, which has not changed for three months. LPR may change every month. Whether it becomes higher or lower depends on the market, and the change of LPR also directly affects the change of loan interest rate.