September 20 People's Bank of China released an announcement on loan market quotation rate (lpr), indicating that the latest quotation for lpr in September has come out. So what is the lpr loan interest rate in September 2022? Will mortgage loans be automatically adjusted after the lpr drop?
1. What is the LPR loan interest rate in September 2022?
lpr loan interest rate in September 2022 is 3.65% for 1 year, and 4.3% for 5 years or above. The above LPR is valid until the next release of the LPR. It is the same as the August quotation, with interest rates of 1-year and 5-year or above remaining unchanged.
1.1 year LPR latest quotation August 2022: 3.65%.
2.5 year LPR latest quotation August 2022: 4.3%.
3. List of lpr interest rates in 2022:
1 year | 5 year | |||
8 August 2022 | 3.65% | 4.30% | ||
4.30% | ||||
July 2022 | 3.70% | 4.45% | ||
6, 2022 | 3.70% | 4.45% | ||
2022 May | 3.70% | 4.45% | ||
2022 April | 3.70% | 4.60% | ||
2022 March | 3.70% | 4.60% | ||
4.60% | ||||
2022 March | 3.70% | 4.60% | ||
| html ml0February 2022 | 3.70% | 4.60% | ||
January 2022 | 3.70% | 4.60% |
2. After the lpr drops, will the mortgage automatically adjust? Whether the mortgage will automatically adjust after the decrease of
lpr depends on which loan you choose. For example, if you apply for provident fund loan , your interest rate will not automatically drop due to the reduction of LPR, because the provident fund loan has no linkage with lpr.
Secondly, if you apply for an ordinary loan before October 8, 2019, if you choose a fixed interest rate when you meet the interest rate conversion from March 1 to August 31, 2020, then your mortgage will not automatically adjust after the LPR drops, but will remain fixed according to the interest rate agreed in the previous contract. Because housing loans that have been processed since January 2020 are divided into fixed interest rates and LPR floating interest rates. The fixed interest rate refers to the fixed interest rate. For example, the current bank's benchmark interest rate is 4.75%, and the interest rate fluctuation rate agreed with the bank is 10%. If the bank's mortgage interest rate drops and the benchmark interest rate of central bank remains unchanged, then your personal mortgage interest rate will also remain unchanged. If it is adjusted to a floating interest rate, then your mortgage will automatically adjust after your LPR drops.
Summary: LPR latest quotation in September 2022 is 3.65% for 1 year LPR, and 4.3% for 5 years or above. The above LPR is valid before the next release of LPR, and its 1 year and 5 years or above interest rates remain unchanged. Whether the mortgage loan will automatically adjust after the lpr drops depends on which type of loan you choose. For example, if you apply for a provident fund loan or a normal loan before October 8, 2019, but choose a fixed interest rate when the interest rate conversion is made from March 1 to August 31, 2020, then your mortgage loan will not automatically adjust after the lpr drops.
