10-year lpr interest rate rose again on the basis of last month, and only two banks lowered it, with a minimum of 5.95%(LPR+ 130 basis points); Last month, the interest rate of the second home loan was basically around 6.35%(LPR+ 170 basis points).

The statistics of banks this month are basically around 6.45% (LPR+ 180), and some banks even reached an astonishing 7%(LPR+235 basis points).

Introduction to LPR:

Each quotation bank shall submit the loan market quotation (LPR) to the National Interbank Funding Center on the 20th of each month (postponed in case of holidays), with a step of 0.05 percentage points. After excluding the highest quotation and the lowest quotation, the National Interbank Funding Center rounded off to the nearest integer multiple of 0.05% to calculate the LPR, and announced it at 9: 30 on the same day.

The public can inquire at the National Interbank Funding Center and the website of China People's Bank. At present, LPR includes 1 year and more than 5 years.

The two declines of 1 year LPR have the effect of reducing the loan interest rate of entity enterprises, but there are still some differences in policy significance. The last LPR decline in 1 year was driven by the contraction of the increase range, which more reflected the comprehensive effect of monetary policy in the past period.

1 year LPR decline is driven by MLF interest rate decline. Considering that the MLF interest rate is the policy interest rate of the central bank, this more strongly releases the positive signal of monetary policy.