On the last weekend of 20 19, I still didn't have a rest. Overtime is the daily routine of editing dogs.
Yang Ma Yang Ma always likes to release heavy policies on weekends. The last rate hike was on August 25th, when the loan interest rate was raised from the benchmark interest rate to the loan market quotation rate (LPR). detail
Today, on February 28th, 19, Ma Yang issued Announcement No.30 of the People's Bank of China, announcing the conversion of the pricing benchmark of the current floating rate loan of LPR.
Let's review the previous policy. 10 before June 8, our commercial loan interest rate was determined by the benchmark interest rate+floating ratio. The benchmark interest rate is 4.9%, and the first suite generally rises by about 15%, which is 5.64%.
On August 25th, it was stipulated that after June 8th (10), the mortgage interest rate would be based on LPR. The first suite shall not be lower than LPR, the second suite shall not be lower than LPR plus 60 basis points, and the commercial premises (shops, office buildings and business apartments) shall not be lower than LPR plus 60 basis points, and the provident fund will remain unchanged.
LPR is released on the 20th of every month, and the LPR over five years is 4.85% in 65438+1October, 4.8% in/kloc-0+1October and 4.8% in 65438+February.
One of the provisions on August 25th is the loan before June 8th, and 10 is still implemented according to the old policy.
Today, this new policy is aimed at the stock floating interest rate loan, that is, the old loan before, and it should also be changed to the form based on LPR.
Interpretation of the new deal
I know there are many things you can't understand, so I won't post the original text, I will turn it into a popular saying for everyone to understand.
1. Who will be affected?
Stock floating rate loans refer to loans that were signed on the basis of the benchmark interest rate according to the old policy before June 65438+1 October12020, and were issued or signed but not approved (excluding provident fund loans). From June 65438+1 October1in 2020, the loan contract can no longer be signed according to the old policy.
In other words, if you are a provident fund loan, or if the new commercial loan is signed after 10 (10), then you don't have to do anything. People who used to take the benchmark interest rate as the standard have been affected!
2. When will it be changed?
From March, 2020, financial institutions should negotiate with customers who borrowed from the old policy. In principle, the conversion should be completed before August 3, 20201,and the bank will contact you by phone or SMS.
3. What should I change it to?
There are two methods to choose from, but only once! The floating interest rate loan of inventory in the last repricing cycle shall not be converted.
The first is to change the original interest rate to LPR as the benchmark for bonus points (bonus points can be negative), and the number of bonus points will remain unchanged during the remaining term of the contract, and other loans except mortgage loans will be determined by both borrowers and borrowers through consultation. The appreciation of mortgage loan should be equal to the difference between the interest rate level of the original contract and the LPR on June+September +02, 2065438. After the transfer, your interest rate will be equal to the original interest rate before the first repricing date.
On the first repricing date, the interest rate will be determined by recalculating the LPR of the last month and adding points. Both the repricing period and the repricing date can be re-agreed, and the shortest repricing period is one year.
In other words, after the conversion, your interest rate is the same as the original interest rate, but if the LPR changes later, your interest rate will change with it, but it will remain unchanged.
For example, if your original mortgage contract has gone up 15%, the benchmark interest rate is 4.9%, and your mortgage interest rate is 4.9x (1+15%) = 5.64%.
On June 2019,5438+2002, the LPR over five years is 4.8%, so your bonus is 5.64%-4.8%=84 basis points. (One basis point is 0.0 1%)
If you change it in March 2020 and set the repricing date to 65438+ 10/and the repricing period to 1 year, your interest rate will be 5.64% from March 2020 to February 2020 1.
Suppose that the LPR for five years or more is 4.7% in June 5438+February 2020, and the interest rate is LPR+ plus point =4.7%+84 basis points =5.54% from June 65438+ 10/in June 2020. Every year.
The second is to directly convert it into a fixed interest rate. Mortgage loans should be converted to the original recent level, and how much other loans should be converted is up to you to negotiate with the bank.
For example, your original benchmark interest rate has increased by 65,438+05% to 5.64%. After converting it into a fixed interest rate, your mortgage interest rate will always be 5.64% until you repay the loan.
answer questions and remove doubts
1. Since the interest rate is the same before and after the conversion, why do you want to convert the previous loan?
According to the central bank's answer, at present, 90% of new loans have been priced with reference to LPR, while the previous stock loans can't reflect the changes of market interest rates in time, which is not conducive to protecting the rights and interests of both borrowers and borrowers. In order to further deepen the reform of LPR, this announcement is issued.
To put it bluntly, everyone treats them equally, uses a new standard uniformly, is convenient for management, and can also follow the market interest rate.
My previous mortgage interest rate was discounted. Is there no discount after the conversion?
Please note that there is a saying in the original policy that "bonus points can be negative". If your original interest rate is discounted, your bonus will be negative. Even if you follow the new method of LPR+ bonus points, you can still enjoy interest rate discount because your bonus points are negative.
For example, if you offer a 20% discount, the benchmark interest rate is 4.9%, your interest rate is 4.9% x 0.8 = 3.92%, the LPR of 20 19 and 12 over five years is 4.8%, and your plus point is 3.92%-4.8% =-0.82.
Suppose your repricing period is one year, and the repricing date is 65438+ 10/month 1, and the LPR for more than five years in 2020 is assumed to be 4.7%. Starting from 202 1 65438+1October1,your interest rate will be LPR+ plus = 4.7%.
3. Which method is more cost-effective?
Simply put, the first way is to change with the change of LPR. If LPR falls in the future, your mortgage interest rate will be lower, which will save more interest. The second method, fixed interest rate, is cost-effective only when LPR becomes higher and the calculated interest rate exceeds the original interest rate.
Recently, there has been a trend of interest rate reduction at home and abroad, including the LPR with a term of more than five years has also dropped from 4.85% in June to 5,438+10 to 4.8% in June. I personally estimate that monetary policy changes will continue to be loose in the later period, so if interest rates are further reduced, it is more cost-effective to choose the first method, and the cycle will be the shortest year.
I will do it in March next year. Is there any difference between it and August?
Processing time does not affect the interest rate. You can communicate well with the bank and choose your own convenient time.
5. What is the impact of this policy on the property market and housing prices?
When the policy was introduced in August, I said that the interest rate remained basically unchanged, which had little impact on housing prices. This time, it is aimed at stock loans, that is, people who have bought mortgages before, and the interest rate has basically remained at the same level, so it still has little impact.
If you want to buy a house, you should consider whether the property itself is suitable for you. Compared with the change of mortgage interest, the soul question is, have you got your down payment?
If you don't know how to choose a house, or if you don't know anything about the policy, please talk to me, one-on-one VIP service.