Today (April 20), the Central Bank authorized the National Interbank Funding Center to announce the latest loan market quote rate (LPR). The result:
1-year LPR is 3.85%, The LPR over 5-year period is 4.65%, which has not been adjusted for 12 consecutive months.
Many people don’t know the importance of LPR. For example, when we buy a new house, the sales lady will tell you that the current mortgage interest rate is LPR + XX basis points. If it is Zhuhai, she would say that the first home loan interest rate is LPR+65 basis points. If you don’t understand, you definitely don’t understand. In fact, the mortgage interest rate is 4.65%+0.65%=5.3%.
In terms of loans, LPR is currently the de facto "benchmark interest rate".
Before August 2019, the benchmark interest rate for domestic loans was the benchmark interest rate for bank loans. After October 2015, the benchmark interest rate for loans with a maturity of more than five years was 4.9%. If you apply for a mortgage at a bank, the bank will generally give an increase on the basis of the loan benchmark interest rate. Let’s assume it’s 20%, then your final loan interest rate is:
4.9% (1+20%)=5.88%
5span
spanLPR has become the new "benchmark lending rate", and the calculation of bank loan interest rates has changed from a "float" method to a "base point" method.
If it is the current mortgage interest rate, then the calculation is 5.88%=4.65%+1.23%, that is, add 123 basis points.
Why does the mortgage interest rate use 5-year LPR instead of 1-year LPR?
Because the mortgage is a long-term loan, usually 20 years, a long-term LPR (5-year term) is adopted.
mortgage interest rate = LPR interest rate + basis point
However, after the basis point of the personal loan is determined, it will be fixed within the contract period.
What does it mean?
For example, if you buy a house in Shenzhen now,The first set. According to Shenzhen's current first set of interest rates of 4.95%, then the basis point is 30, which is (4.95%-3.65%). Then these 30 basis points cannot be changed within 20 years.
If one month later, Shenzhen's mortgage interest rate rises to 5.05%, then the basis point is 40, which is (5.05%-3.65%). At this time, when you buy a house, the basis point becomes 40, and the 40 basis points remain unchanged for the 20-year contract period.
According to Rong360 Big Data Research Institute released in April (collection period from March 20, 2021 to April 18, 2021) 42 key cities mortgage interest rate monitoring data: _span3p The average interest rate for first home loans nationwide was 5.31%, an increase of 4 basis points from the previous month; the average interest rate for second home loans was 5.59%, an increase of 2 basis points from the previous month. Mortgage is raising interest!
Among 42 cities,The average level of mortgage interest rates in 22 cities rose month-on-month, and the increase in 10 cities was more than 10BP.
In April 2021, in the first-tier cities, the mortgage interest rate in Guangzhou continued to rise, with the first home loan interest rate rising by 11BP month-on-month, and the second home loan interest rate rising by 10BP month-on-month.
21 second-tier cities saw a month-on-month increase in mortgage interest rates. The first-home mortgage interest rate in 9 cities increased by more than 10BP from the previous month. Zhongshan, Huizhou and Dongguan ranked the top three in the first set of increases; Dalian and Harbin’s Mortgage interest rates have also increased significantly this period.
This means that the mortgage interest rate has increased recently. But according to the formula (mortgage interest rate = LPR interest rate + basis point). The recent increase in mortgage interest rates is mainly the result of the increase in the basis point of some cities, not the result of the increase in the LPR interest rate.
influences: 1. For long-term buyers who need a higher benchmark interest rate, span3span _p
p5p Level,Its mortgage interest rate is higher, and the cost of buying a house is higher.
This is like two people climbing a mountain at the same speed. The first one is at the bottom of the mountain and the second one has walked a third. If they climb at the same time, the second person must have climbed more. High, but the high here is not a good thing for buyers.
2. The increase in the basis point does not affect the buyers, because the basis point is unchanged during the contract period, which is a good thing. This is equivalent to paying rent. You have signed with the landlord for two years, 3,000 yuan per month. In two years, the rent has risen by 10%, but yours is still 3,000 yuan, which locks in the cost.
The increase in the 3- and 5-year LPR interest rate will also cause the mortgage interest rate to rise, and it is an overall increase. But LPR is a changing interest rate, which rises and falls. In the short term, with the tightening of real estate regulation, the 5-year LPR interest rate may rise, and the mortgage interest rate will also rise by then. but the long term, LPR declining interest rates is inevitable , because under the aging deepening slowdown in economic growth will follow, then the need for counter-cyclical monetary policy adjustment, interest rates remained low. Therefore, for home buyers, you can borrow as much as possible to buy a house, because inflation will help you reduce part of the burden.
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