China News Service, October 12 (China News Service reporter Zuo Yukun) In the last two days of September, favorable policies for the first mortgage interest rate and the first personal housing provident fund loan interest rate were successively issued. Since then, many places have issued documents one after another since October 1 to follow up on implementation.
Provident fund loan , various places have frequently announced policies to lower interest rates; in terms of commercial loans, many places have entered the level of interest rates below 4.0%.
Data picture: A residential building in Beijing. Photo by Zuo Yukun, China News Service,
First-tier cities join Provident Fund Loan Interest Rate Reduced Team
10, according to the Beijing Housing Provident Fund Hotline, Beijing, first-tier cities, lowered the interest rate of the first personal housing provident fund loan.
Currently, the first housing provident fund loan in Beijing has been implemented for less than 5 years (including 5 years) of 2.6%, and an interest rate of 3.1% for more than 5 years. New home purchases for employees who have paid their deposit can be implemented at the new interest rate. In addition, the interest rate for the first housing provident fund loan in the municipal-managed stock will be adjusted from January 1 next year.
This is also the result of implementing the decision-making and deployment of the People's Bank of China . According to a notice issued by the People's Bank of China on September 30, starting from October 1, the interest rate for the first personal housing provident fund loan will be lowered by 0.15 percentage points, the interest rate for less than 5 years (including 5 years) will be adjusted to 2.6%, and the interest rate for more than 5 years will be adjusted to 3.1%.
According to rough statistics, as of now, there are Hangzhou, Nanjing, Shijiazhuang, Chengdu, Harbin, Hefei, Nanchang , Zhengzhou, Jiaxing , Huzhou , Ningbo , Dongguan , Wuxi , Nanning , Ma'anshan and other cities have stated that they will adjust the interest rate of the first personal housing provident fund loan according to regulations.
A Changsha citizen Ms. Lin, who has applied for a provident fund loan and loan, specially reviewed her contract at that time, and the contract marked: "If the provident fund loan benchmark interest rate announced by the People's Bank of China will be adjusted accordingly on January 1 of the following year, and the borrower will not be notified separately."
"This is of course good news. I calculated that starting from January next year, provident fund can pay dozens of yuan less every month, and it can save tens of thousands of yuan in more than 20 years." Ms. Lin said.
, see if a provident fund loan of 1 million yuan and a 30-year period is converted into a new interest rate, the total loan interest rate under the equal principal and interest loan method will be reduced by about 30,000 yuan, and an additional monthly repayment of 82 yuan will be reduced.
But it is worth noting that the reduction in the provident fund loan interest rate is only for the first home. Wang Xiaoqiang, chief analyst of Zhuge House Search Data Research Center, pointed out that this also once again reflects the support of credit policies for urgent needs, and the sales end of the real estate market is expected to be further repaired.
Since this year, the optimization and adjustment of provident fund policies have become one of the important means of supporting the real estate market in various places. In addition to the direct reduction of interest rates, there is also a decrease in the down payment ratio for housing purchases for provident fund, an increase in loan amount, and the use of direct relatives.
Chen Wenjing, Market Research Director of Index Business Department of China Index Academy, said that in combination with previous relevant policies, the reduction of provident fund loan interest rates will further strengthen the influence of provident fund policies, and thus drive the gradual recovery of the real estate market.
Data picture: Wuhan. (Drone picture) Photo by Zheng Ziyan
The interest rate of first-home commercial loans in many places fell below 4%
The main reason behind the reduction of provident fund loan interest rates is actually the decline in commercial loan interest rates. For a long time, the provident fund loan interest rates have often been adjusted simultaneously after the commercial loan interest rate, maintaining a relatively stable interest rate spread .
The interest rates of provident fund loans are basically unified nationwide. The differences in the interest rates of commercial banks' loans themselves have also given the relatively greater ", one city, one policy, " independent space for regulation in various places.
People's Bank of China and China Banking and Insurance Regulatory Commission issued a notice on the 29th, deciding to phased adjustments to differentiated housing credit policies. City governments that meet the conditions may independently decide to maintain, lower or cancel the interest rate limit for the first-home loan issued in the local area before the end of 2022.
According to the latest LPR data, the minimum lower limit for first-home loan interest rates implemented in various places is 4.1%.After the notice was issued, the number of cities with interest rates "breaking 4" gradually increased. Jining , Qingyuan , Zhanjiang , Wuhan and other places have lowered the interest rate. For example, Qingyuan can achieve a 3.7% interest rate, and Jiangmen , Yunfu , Zhanjiang and other places have even cancelled the interest rate lower limit.
htmlOn the 7th, a Wuhan location industry consultant posted an advertisement on WeChat Moments that "the interest rate of Wuhan's first mortgage loan has begun to be implemented by 3.9%. Regarding the specific implementation situation, she said: There is no clear plan yet, but there are already connections in communication. At present, it is estimated that the implementation will be until the end of the year."The adjustment of the interest rate of first-home mortgages in many places has fully implemented the policy orientation before the National Day holiday and is a reflection of the further reduction and relaxation of mortgage interest rates." Yan Yuejin, research director of the think tank center of the E-House Research Institute, believes that this is of positive significance to boosting real estate market transactions in the fourth quarter.
"It is expected that more cities will follow up in the future, and the move to lower mortgage interest rates will be more obvious." Zhang Bo, director of the branch of 58 Anju Real Estate Research Institute, believes that the cycle of this round of real estate market adjustment will be relatively long, especially the pace of recovery in different cities still has big differences. Overall, the real estate market is still in the process of bottoming out in the fourth quarter of this year. (End)
