For the vast majority of citizens in mortgage to buy a house, the benefits of five interest rate cuts of 20 15 will begin to appear this month. However, the bank financial planner reminded that since 65438+ 10 is in a special period of inter-annual interest, the mortgage of 65438+ 10 is likely to "rise instead of fall", and the impact of interest rate cuts on mortgage will really appear in February.
Millions of mortgages will be less than one month in 700 yuan next year.
In 20 15, the central bank cut interest rates five times, which made both deposit and loan interest rates fall to "historical lows", but most buyers have not really felt the relief of mortgage pressure. Since the monthly mortgage payment is mostly adjusted in the following year, the cumulative decline in monthly mortgage payment will be concentrated in the next month after five interest rate cuts.
After five interest rate cuts, how much can the pressure of mortgage owners be reduced?
Take the home buyer Mr. Wang's loan of 6,543,800 yuan as an example. If the loan term is 20 years, and the benchmark interest rate (4.9%) is implemented by the matching principal and interest method, Mr. Wang's monthly payment will become 654.44 million yuan next year, and the total interest will be 570,600 yuan. However, if Mr. Wang applied for a loan of RMB 6.5438+0 million before the first interest rate cut in March this year, and the same loan period is 20 years, the monthly payment at this time is RMB 7.25 1.12 yuan, and the total interest is RMB 740.2 million.
This means that after five interest rate cuts this year, Mr. Wang's monthly payment will be reduced by 7.0668 yuan next year, and the interest will be reduced by169,600 yuan in 20 years. After 20 years, a family car can be saved.
The interest rate of provident fund loans was lowered four times during the year, one less than that of commercial mortgages, but the benefits of centralized cash withdrawal are not few. Take Ms. Zhang and her husband for example. They used 500,000 provident fund loans, and chose the loan term of 10 and the repayment method of equal principal and interest. Before the interest rate cut on March 65, 438+0, 2065, 438, the benchmark interest rate over five years was 4.25%, and they had to pay 565,438+0.88 yuan in principal and interest every month. The last interest rate cut of the provident fund was on August 26th. According to the latest interest rate of 3.25%, the monthly repayment is 4,885.95 yuan, and the total principal and interest is 586,300 yuan, saving 235.93 yuan per month.
20 16 and 1 began to adjust the mortgage interest rate.
Long-term commercial loans, such as citizens' mortgages, take effect the following year as agreed by most people and banks, so the monthly supply of most people should start to decline from June 5438+ next year 10. At present, the most commonly used way to adjust the loan interest rate is the following year. According to the regulations, in case of interest rate adjustment this year, the mortgage interest rate of customers who choose floating interest rate loans will not be adjusted until June 65438+ 10 of the following year.
Bank financial planners reminded that at present, the mortgage repayment date of most banks is around the 20th of each month, and the monthly payments of 20 16 and 16 are quite special, which just spans the annual interest rate-the old interest rate will be implemented from February 20 15 to February 2 1, and this year's interest will be 65,438+. Therefore, the reduction of monthly payment is not "complete", and even the mortgage interest will drop in June 5438+ 10, but if it is recalculated according to the calculation formula of equal principal and interest, the repayment principal will rise.
The increase in the principal paid by the mortgage payer will exceed the decrease in interest, so there will be a strange phenomenon that the monthly payment will "rise instead of fall". As a matter of fact, the repayment of mortgage within 1 month is the principal, not the increase of interest. After February, the interest calculation method returned to normal. Financial planners remind customers that it is best to pay attention to the bank SMS notification next month to avoid overdue mortgages.
It may not be cost-effective to repay the loan in advance after cutting interest rates.
Near the end of the year, many lenders are considering whether to repay the loan in advance. In this regard, some bank financial managers analyzed that in the case of five interest rate cuts this year, it may not be cost-effective to repay the loan in advance if those who had previously enjoyed preferential interest rates of 30% and 8.5% and applied for provident fund loans.
Citizens who buy a house around 20 10 apply for a preferential commercial loan interest rate of 8.5% or even 30% on the basis of the benchmark. From 16, the interest rates of these two types of mortgages will be lowered to 4. 165% and 3.43%, while for provident fund lenders, the interest rate will be lowered to 3.25% next year, which is lower than the current income level of bank wealth management products. At present, the average income of some wealth management products of banks can reach or even exceed 4.5%, that is to say, mortgage lenders only need to allocate funds reasonably, and they can leave the income after paying the loan interest, which is more cost-effective than repaying the loan in advance with this money.
(The above answers were published on 20 16-0 1-03. Please refer to the actual situation for the current purchase policy. )
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