Under the authorization of the People's Bank of China, the National Interbank Lending Center announced on the day that the market interest rate for loans with a maturity of more than one basis point (one basis point lower than the previous value. This is the first time since this year. Experts believe that this measure will help reduce the cost of comprehensive social financing, stimulate the effective demand of the real economy, and release a positive signal of financial efforts to make a steady start.
The sharp reduction in the interest rate of the loan market above maturity is of great significance for alleviating the downward pressure on bank interest margins. According to experts, the downward revision exceeded market expectations and created more room for the decline in progress above the maturity period. This is undoubtedly good news for banks.
This rate cut will directly reduce the interest burden on home buyers. Calculated in the form of 10,000 yuan of commercial loans, the term of the year, and the equal amount of principal and interest, without considering the additional points, the reduction of the term or more will save more than 10,000 yuan in interest for home buyers, and nearly 10,000 yuan in the form of equal principal. This will help stimulate demand in the real estate market.
In addition, first-home mortgage interest rates in tier-1 cities such as Shanghai, Guangzhou, and Shenzhen will also be lower. This will allow homebuyers in these cities to buy homes at a lower cost.
The lower limit of the national mortgage interest rate policy will also be adjusted to this will help to reduce the mortgage interest rate nationwide and stimulate the development of the real estate market.
Wen Bin, chief economist of Minsheng Bank, said that at present, by lowering the interest rate above the term, the cost of both corporate loan financing and residential mortgage financing will drop significantly, which will play a positive role in maintaining the stable and healthy development of the current real estate market.
The reduction also reflects the continuity of the policy. Since the reform in January, the number of years and above has dropped by a total of one basis point. Experts believe that with the adjustment of the interest rate of the stock of housing loans and the reduction of residents' interest expenses, it will also be conducive to the progress and recovery of residents' consumption.
Finally, the sharp decline in the maturity of enterprises (institutions) will also reduce the interest rate of medium and long-term loans of enterprises (institutions), and gradually stimulate the demand for medium and long-term loans of enterprises (institutions). This will help reduce the interest rate on long-term loans for major national projects and infrastructure construction, and will also help reduce the pressure on local debt interest expenses.
The sharp reduction in the interest rate of the loan market with a maturity of more than one year will have a positive impact on reducing the comprehensive financing cost of the society, boosting residents' willingness to consume, and improving the credit environment. This is the second important improvement of China's financial policy support for the real economy, and it is also the second strong consolidation of the steady recovery of the economy.