Shanghai, it is unexpected.
Editor’s note: This article is from WeChat public account “Magic Fortune View” (ID :moducaiguan), the author of the Magic Capital View team.
According to the regulations of the People’s Bank of China, starting from October 8, the personal commercial housing loan interest rate is officially linked to LPR, rather than the loan benchmark interest rate that has been used before.
And synchronously stipulates that the newly issued loan interest rate is formed by adding the point of the latest month’s loan market quotation rate (LPR) to the pricing benchmark. The first home loan interest rate shall not be lower than the corresponding term LPR, and the second set shall not be lower than LPR plus 60. Base point.
At the same time, it also stipulates that each place can decide according to the characteristics of different places, according to the different changes of local real estate market, determine the lower limit of the first and second sets of commercial personal housing loan interest rates suitable for the local market. It is worth noting that the CPF personal housing loan interest rate policy is not adjusted.
According to the latest LPR, the LPR for the 1-year period on September 20, 2019 is 4.20%, and the LPR for the 5-year period is 4.85%. Of course, the loan for the 5-year period is mainly for the mortgage, so for the purchase of the house For those who only need to pay attention to the 5-year LPR, the benchmark is 4.85%.
Although LPR may say more, everyone has a few points, I think it is necessary to remind everyone.
01
The same LPR, but different city algorithms are different and the degree of execution is different.
The actual mortgage interest rate (October) = 5-year LPR interest rate (September) + policy at all levels plus points.
After the increase, the actual mortgage interest rate of each place is basically the same as the original floating interest rate: the first set of interest rates in most cities has slightly increased, the individual cities have dropped slightly, the second set of interest rates have increased, and the mortgages have become slightly more expensive.
According to the Yiju Research Institute, in October 2019, the average LPR mortgage rate for the first-floor cities in the four first-tier cities was 5.23%, and the average for the second suite was 5.61%, which was 2 basis points (0.02%) and 3 times higher than in the past. Base point (0.03%).
We will compare the 7 core cities in the bottom of the core, and it will be obvious that there are several second-tier cities.Floating is more than a first-tier city.
The average first LPR mortgage rate in the seven major second-tier cities was 5.67%, and the second-home loan interest rate was 5.99%, which was 3 basis points (0.03%) and 5 basis points (0.05%).
We can compare the next second-tier cities. It can be found that the magnitude of the different energy levels varies, the first-tier cities add a little lower, and the hot second-tier cities have a higher range.
If you compare it carefully, we will find that the first set of points is the largest in Suzhou, adding 120 basis points (up to 6.05%). The second set of points is the largest in Hefei, plus 152 basis points. 6.37%).
Among them, I think there are two words that run through this new LPR policy, which is “stable”.
For example, although most cities have made different adjustments, in fact, considering that most of the cities in the previous period have actually raised interest rates, almost all the adjusted interest rates in cities are almost the same as in the previous period.
The leader does not seem to want everyone to have an expectation, that is, to use this interest rate for the anchor to rekindle the idea of a rich overnight property, it is really good intentions.
The city with the most obvious performance is Shanghai.
02
Although the central bank clearly stated that the first home loan should not be lower than the LPR benchmark, after the new Shanghai regulations, the first home loan is still discounted! This is beyond everyone’s expectations!
According to the statement of the central bank, Shanghai has implemented the only “special” new mortgage policy in order to maintain the stability and coherence of the personal mortgage interest rate. Previously, Shanghai has been the “squatting place” of the national mortgage interest rate.
Everyone knows that before the implementation of the LPR New Deal, the first suites of the major banks in the Shanghai market basically had a 5% discount, which was 4.655%, and the second suite was up 10%, or 5.39%.
According to the report of the Financial Association, after the implementation of the LPR New Deal, the interest rate of the first suite in Shanghai was reduced by 20 basis points to 4.65%, and the second suite rose slightly to 5.45%.
