Text: Deng Haozhi.
The central bank released a new LPR interest rate, and the 1-year LPR is 345%, and LPR for more than 5 years is 395%。Interest rates on long-term loans have fallen sharply, as never seen since the introduction of LPR pricing.
1. The main purpose of the five-year LPR is to reduce the mortgage interest rate and stimulate the demand for home purchases.
Prior to this adjustment, the one-year LPR rate was 345%, and LPR for more than 5 years is 42%, a large gap between the two, which is the previous asymmetric interest rate policy formulated to curb the overheating of the real estate market. As the real estate market has continued to decline in recent years, economic growth pressure is greater, and it is becoming more and more urgent to boost the real estate industry. In addition to the continuous relaxation of the previous stricter regulatory policies in various places, the central bank has also begun to hope to stimulate the demand of the property market and reduce the pressure on borrowers by lowering mortgage interest rates. In addition, it is also conducive to narrowing the large gap between the mortgage interest rate and the operating loan interest rate, and will also have a positive impact on solving the "replacement loan" behavior of illegal use of business loans.
2. It is worth noting that the previous LPR adjustment took the form of small steps and fast running, that is to say, there were many adjustments, but the range of each reduction was not largeThis time, the LPR for more than 5 years was lowered by 025 percentage points, which is a very large margin. On the one hand, this also reflects the current pressure on China's real estate market, and it is difficult for small policies and measures to boost the current sluggish market. At the same time, it also reflects the management's desperate desire to boost the real estate market as soon as possible.
3. If calculated based on the commercial loan amount of 1 million yuan, the loan for 30 years, and the repayment of equal principal and interest, the LPR will decrease by 25 basis points and the monthly payment will decrease by 1448 yuan, a cumulative 30-year monthly payment reduction of 520,000 yuan. This "interest rate cut" is still a real good thing for friends with mortgages. In addition, the four major first-tier cities have successively relaxed purchase restrictions, and the second- and third-tier cities have continuously introduced policies to stimulate the property market. Under the superposition of multiple favorable policies, it is expected that the property market is expected to gradually complete the bottom in the first half of this yearand gradually enter the recovery in some cities in the second half of this year**.