just announced the December LPR! The People's Bank of China authorized the National Interbank Funding Center to announce that the loan market quotation rate (LPR) in December 2021 is: the 1-year LPR is reduced by 5 basis points to 3.8%, and the 5-year and above LPR is maintained at 4.65%. constant.
The loan market quoted interest rate (LPR) is quoted by each quoting bank based on the open market operating interest rate (mainly referring to the medium-term lending facility interest rate) plus points. It is calculated by the National Interbank Lending Center and provides a pricing reference for bank loans. Currently, LPR includes two varieties: 1-year term and 5-year term or more. Before this month, LPR had remained unchanged for 19 consecutive months.
LPR continues to be under pressure
Recently, discussions around interest rate cuts have heated up in the market. On December 15, the People's Bank of China officially lowered the deposit reserve ratio for financial institutions by 20.5 percentage points (excluding financial institutions that have implemented a 5% deposit reserve ratio), releasing approximately 1.2 trillion yuan in long-term funds.
The People's Bank of China has also launched a 500 billion yuan medium-term lending facility (MLF) operation and a 10 billion yuan reverse repurchase operation. On that day, 950 billion yuan of MLF and 10 billion yuan of central bank reverse repurchase expired. Judging from the operation results, whether it is 1-year MLF (2.95%) or 7-day reverse repurchase (2.2%), the operating interest rate is the same as the previous operation.
Although the MLF interest rate has not changed, after the second comprehensive RRR cut was implemented on December 15, the two RRR cuts have directly reduced the capital cost of financial institutions by approximately 28 billion yuan per year. Previously, the market generally predicted that the motivation for LPR reduction has been sufficient, and there is a possibility of "interest rate cut" in LPR in the short term.
However, the five-year LPR remains unchanged, which does not prevent the actual loan interest rate from falling steadily. According to a Nandu reporter's investigation, people responsible for lending at Industrial and Commercial Bank and Industrial Bank both said that the banks currently have loan quotas, so the lending speed has also accelerated.
At the same time, Guangzhou's mortgage interest rates have also been gradually lowered since November, with the first-home loan interest rate falling from 6.0%-6.2% to 5.8%, and the second-home loan interest rate falling from 6.2% to 6%.
LPR mortgage calculator helps you calculate your monthly payment
Southern Metropolis Daily officially launched the "LPR mortgage calculator". After scanning the QR code on the poster below to enter, as long as you enter the commercial loan amount, term, and original commercial loan interest rate, you can easily Find out in one click.
Step one: Open the "LPR mortgage calculator" and click "Compare", as shown in the picture:
Step two: Enter your commercial loan amount, loan term, and loan interest rate.
Assumption: The commercial loan is 2 million yuan, the loan term is 30 years, and your commercial loan interest rate before conversion increases by 5%, then the LPR points value and the LPR commercial loan interest rate will be automatically calculated, as shown in the figure:
It is worth reminding that the original The interest rate pricing method agreed in the contract is converted to using LPR as the pricing basis and adding points (the points can be negative), and the value of the points is fixed during the remaining term of the contract.
The third step, finally click "View Comparison" to enter the " vs. results" page. Here, you can also choose to compare the results of the two loan methods " equal principal and interest repayment " and "equal principal repayment", which is really convenient!
still uses the above assumption as an example. It can be seen that if the pricing is switched to LPR and the price is repriced, the monthly payment can be reduced by 190.15 yuan.
Under the icon, you can also learn the details about the total interest! Calculate “whether your monthly payment has decreased or increased” in three easy steps!
What is more convenient for home buyers is that if you want to know more information about LPR conversion, this calculator is powerful. Why do you need to "change anchors" for existing houses? provident fund loan whether to transfer to LPR and a series of other issues can be understood. Come and share.
Nandu reporter Wang Yanling
