Just now, People's Bank of China authorized the National Interbank Offering Center to announce that Loan market quotation rate (LPR) on September 20, 2022 is: the 1-year LPR is 3.65% (the previous period was 3.65%), and the LPR for more than 5 years is 4.3% (the previous period was 4.3%).
or above LPR is valid before the next release of LPR.
01
First home mortgage interest rate will be as low as 4.1%! The lowest level in 20 years!
Last month, both the 1-year and 5-year periods were lowered! Since the beginning of this year, the cumulative decline of 1-year LPR and 5-year LPR have been 15 basis points and 35 basis points respectively.
In January this year, the 1-year LPR and 5-year LPR fell simultaneously: the 1-year LPR fell by 10 basis points, and the LPR for more than 5 years decreased by 5 basis points.
On May 20 this year, the real estate market changed drastically, with the 5-year LPR falling by 15 basis points, and the 1-year LPR remained unchanged.
has remained unchanged for three consecutive months since then.
On August 22 this year, the 5-year LPR fell by 15 basis points, and the 1-year LPR fell by 5 basis points.
On September 20 this year, we continued to hold on and remained unchanged.
Overall, since the beginning of this year, the 1-year LPR has been lowered twice and the 5-year LPR has been lowered three times.
It is worth mentioning that LPR is the loan interest rate executed by commercial banks to their best customers, and other loan interest rates can be generated based on this basis.
LPR is quoted by 18 banks on the 20th of each month. Excluding the average price after one highest price and the lowest price, the "National Interbank Offering Center" is entrusted by to be responsible for statistics and release. The new loans of each bank must be implemented in reference to LPR.
In other words, the 5-year interest rate will directly affect your mortgage!
Last month, both the 1-year and 5-year periods were lowered, and mortgage interest rates also further fell, setting a lowest level in nearly 20 years!
htmlIn May, the central bank notified that the lower limit of the first mortgage interest rate was lowered by 20bp. At present, the mortgage interest rate as low as 4.1% is far lower than the 4.156% after a 30% discount in 2009. According to the calculation of
, if the commercial loan amount is 1 million yuan, the loan will be 30 years, and the repayment method of equal principal and interest , after the LPR is reduced, the monthly payment will be reduced by 88.48 yuan, and the cumulative reduction in 30 years will be 31,800 yuan!
02
First home mortgage interest rate is as low as 4.1%! The lowest level in 20 years!
Recently, from the Nanjing mortgage interest rate survey, it was found that many banks in Nanjing have adjusted their mortgage interest rates. The first home of mainstream banks is 4.1%, and the lowest home of second home is 4.5%, and generally no more than 5%.
According to the survey, the interest rate for the first mortgage of has dropped from the previous mainstream 4.25% to 4.1%, the lowest level in 20 years!
In terms of first-home mortgage interest rates, several banks in Nanjing have implemented a 4.1% loan interest rate (4.3%-20BP). They are: Zijin Rural Commercial Bank , CITIC Bank , Bank of Communications, Industrial Bank , Fubon Huayi, Agricultural Bank of China, Industrial and Commercial Bank , Guangfa Bank , Minsheng Bank , Huaxia Bank , Pudong Development Bank, Bank of China and so on.
At the same time, many banks said that the credit limit was sufficient and the loan time was relatively fast. The fastest payment time was about 3 to 5 working days, and most banks were about 1 month.
In addition, in terms of the interest rate of the second home mortgage, the interest rate of the second home mortgage is basically "LPR+60 basis points". has now fallen below the "5" header, reaching 4.9% (4.3% + 60BP)!
From the market perspective, the interest rates of first and second home loans in Nanjing have hit record lows, which has really reduced the cost of buying a house! Some experts also believe that mortgage interest rates cannot be ruled out that there is a possibility of continued decline, but they need to be determined based on the direction of the real estate market, and everything depends on reality!
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