Just now, the central bank released the latest LPR data,The LPR for more than 5 years was lowered by 25 basis points from 42% to 395%, the decline is more than market expectations.
This is the eighth reduction of LPR over 5 years (a total of 90 basis points) since the LPR reform in August 2019It was the first downward revision this year, and it was also the largest decline
So, what will be the impact of the LPR decline on mortgage rates? Since the mortgage interest rate was anchored to the LPR in 2019, the monthly LPR will directly determine the rise and fall of the mortgage rate.
Since most homebuyers have a mortgage term of more than 5 years, to be exact, LPR of more than 5 years is closely related to the mortgage interest rate.
Prior to the LPR cut, according to the central bank's regulations, the interest rate on the first home loan could be reduced by up to 20 basis points, or 4%, on the basis of the LPR of more than 5 years. Therefore,After the LPR adjustment, the interest rate on the first home loan in Hangzhou will also be lowered to 375%, once again refreshed a record low, and the interest rate of the first set of provident fund loans in the same periodThe difference is also narrowed to 065 percentage points.
Taking a 30-year commercial loan with equal principal and interest of 3 million yuan as an example, the mortgage interest rate has been reduced from 4% to 3After 75%, the monthly repayment amount will be reduced from 14,322 yuan to 13,893 yuanYou can save 430 yuan per month and save 15 years of total interest for 30 yearsMore than 40,000 yuan
As for the interest rate on the second home loan, it will also be reduced by 025 percentage points. Previously, the interest rate of the second home loan in the restricted purchase area of Hangzhou was 45%, and the interest rate of the second home loan in the non-restricted area is 44% at adjusted rates. 15%。
It is worth mentioning that after the LPR adjustment, the bank** loan system will also be adjusted according to the latest value, so new customers who apply for mortgages can enjoy the latest interest rate. However, customers who have been approved before this time must still apply at the previous interest rate. As for the existing customers, it will not be implemented until January next year, according to the new rate.
Affected by the sharp downward adjustment of LPR, real estate stocks quickly rose after the open. Industry insiders believe that the LPR reduction will help the property market stabilize.
*: Chao News reporter Jiang Minhua.