Since the second half of last year, China's central bank has continuously cut interest rates and RRR, and the zero interest rate of financial institutions has declined. At the same time, the mortgage interest rate has also dropped a lot, from 5.88% to 4.25% today. In this case, these families who want to buy a house now can really save a lot of money. But for former property buyers, they still have to implement the original mortgage interest rate, and they can't enjoy the preferential policies on the current interest rate, and the monthly mortgage pressure has not been alleviated.
Therefore, many people who have bought houses before have made it clear that the mortgage interest rate was so high before. Is there any way to lower the mortgage interest rate now? For us, it is understandable that the original buyers want to lower the mortgage interest rate and ease the repayment pressure, but the purchase contract has been signed before and the contract cannot be changed. But there are three ways.
First, it depends on whether the loan interest rate is fixed or floating. If the contract you signed with the bank indicates a fixed interest rate, the original mortgage interest rate has been implemented at 5.88%. And if the contract you signed with the bank says floating interest rate. Although there is no way to reduce the mortgage interest rate this year, we can still enjoy the original interest rate gradually from 2000, and the repayment pressure will be much reduced.
Second, repay the mortgage in advance. Nowadays, many people think that the mortgage interest rate of financial institutions has dropped so much that it is undoubtedly passive according to the previous mortgage interest rate, so they choose to repay the mortgage in advance. In the past, financial institutions were not particularly concerned about repaying mortgages in advance. If the customer repays the mortgage in advance, there is no need to pay the contract penalty.
Nowadays, in order to cope with the tide of repaying loans in advance, many financial institutions are asking customers to pay liquidated damages. If there are conditions for economic development, you can choose to repay the loan in advance, so you don't have to work in a financial institution.
Third, sell the current house and buy a new house, so that you can enjoy the original mortgage interest rate. But we have to face two risks: first, in the long run, the current mortgage interest rate is in a relatively low position in history, in other words, the mortgage interest rate is much higher than today for most of the time in history. If the mortgage interest rate starts to increase after you sell your house, it's not worth the candle.
The other is that if you sell your old house and buy a new house, you can't enjoy the mortgage interest rate of the first suite, but you can only enjoy a lower mortgage interest rate, and the whole process of buying and selling this house is long and risky. Therefore, unless your past mortgage interest rate is above 6%, it is not cost-effective for buyers.
In addition, under the conditions of economic development, if the housing loan can be paid off, there will be no repayment pressure. Naturally, you can also sell the original house to buy a new house and enjoy the original mortgage interest rate. However, there are many variables and risks in this way, so we must choose carefully.