Mortgage conversion is not mandatory, and borrowers can choose the original fixed interest rate or convert it into LPR interest rate according to their own needs. The scope of this batch conversion includes floating rate personal housing loans (including personal commercial housing loans, excluding provident fund personal housing loans and provident fund discount loans) that have been issued before 2020 1 October1.

The interest rate pricing method agreed in the original contract is converted into the pricing benchmark based on the corresponding term LPR. From the conversion point to the first repricing date (excluding), the execution interest rate level is equal to the latest execution interest rate level of the original contract.

This is stipulated by the state. Theoretically, it should be changed from March 1 to August 3 1, but there is no mandatory change. As for suitability, it depends on everyone's different situation. Generally speaking, a loan with a discount of 30% to 20% can be changed to a fixed interest rate. If the original interest rate is high, choose floating interest rate.