The latest 5-year LPR released on the 20th of this month was lowered by 15BP (i.e. 0.15%, and the following LPRs refer to 5-year LPRs) to 4.45%, and Central Bank clearly stated that the minimum interest rate for first-class homes can reach "LPR-20BP" and the minimum interest rate for second-class homes maintaining "LPR+60BP", how will the latest mortgage interest rates for major banks in Ningbo determine that home buyers will be paid attention to.
Last Friday night, our " Ningbo Real Estate Market Report" was the first to report that many large local real estate agencies received notices from the four major banks of " Industrial and Agricultural Construction ", clarifying that the latest interest rate standards of 4.9% of the first house (i.e. "LPR+45BP") and 5.2% of the second house (i.e. "LPR+75BP") will be implemented on Monday.
But yesterday (May 23), a widely circulated rumor said that the four major banks all implemented interest rates of 4.75% of the first house (i.e. "LPR+30BP") and 5.05% of the second house (i.e. "LPR+60BP") from the same day:
The rumors circulated on WeChat Moments early in the morning (May 23). What is the latest mortgage interest rate for major banks in Ningbo?
Yesterday and today, our "Ningbo Real Estate Market Report" telephone consultations with many banks, including the four major banks, and also contacted several local real estate agencies. As of press time, the confirmed information was:
, including the four major banks, are in Ningbo, with the latest interest rate of first-home houses of 4.9% and second-home houses of 5.2%; but some banks are also implementing interest rates of first-home houses of 4.75% and second-home houses of 5.05%. The list of
is as follows:
Note: This table lists the mortgage interest rate standards for major banks as of 19:00 on May 24, 2022, and the possibility of changes in a short period of time is not ruled out. Moreover, due to the different personal credit report and the age, area of the purchased housing, etc., the interest rate approved by the bank may not be completely consistent with the indicated in this table. The specific approval shall prevail.
From the above table, we can see that the current first home interest rates of major banks in Ningbo are still quite room for a reduction from the lowest interest rate "LPR-20BP" clearly defined by the central bank and 4.25% according to the latest LPR. However, the interest rates of second-home units in some banks have dropped to the central bank's clear "LPR+60BP", which is the lowest interest rate level of 5.05%.
From other cities in China, according to Cailianshe, in Tianjin, Suzhou , Wuxi and other places, some banks have lowered mortgage interest rates to the lowest 4.25% and 5.05%.
LPR was lowered beyond expectations and combined with the bank's increase in points. When the interest rates for first-home mortgages are 4.9%, 4.75%, and 4.25%, respectively, the interest rates for commercial loans of 1 million yuan, 30-year, and are repaid with the same principal and interest of . Their monthly payments and interest are changed compared to the changes in the previous mainstream first-home mortgage interest rate when the interest rate for mainstream first-home mortgages is 5.25%. See the following three tables:
As for old mortgage customers who have already loaned before the latest changes in mortgage interest rates, they can only enjoy the interest rate decline caused by the LPR downgrade, and they will generally not be enjoyed until New Year's Day next year. For detailed analysis, please refer to the relevant content in the previous report of this account: "Several large agents in Ningbo have just received the latest interest rate notices for first and second houses in Ningbo, and have dropped to..."
In addition, the down payment ratio for first houses in major banks in Ningbo is generally required to be 30%. If you have one house and the loan has been settled and a new house is required to be 40%. If you have one house but the loan has not been settled and a new house is purchased (that is, the second house mentioned below) is required to be 60%.
Today Cailianshe reported that Jinan has clearly reduced the down payment ratio of second homes from 60% to 40%; some cities encourage banks to lower the down payment ratio of first homes to 20%, and those who already have one house and have their loans settled and have newly purchased one house will also refer to the first home loan standards.
Central Bank and China Banking and Insurance Regulatory Commission yesterday held a monetary credit analysis meeting for major financial institutions, which pointed out that it is necessary to maintain stable growth of real estate credit and support the postponement of principal and interest repayment of personal housing loans severely affected by the epidemic.
Next step, will major banks in Ningbo further lower mortgage interest rates and down payment ratios?
Our "Ningbo Real Estate Market Report" will continue to pay attention to it, and we also hope that major banks will contact us to report when there are any changes in mortgage policies.
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Edited by: Ningbo Evening News Intern Reporter Guo Zhiqing
Editor: Shi Yongmei
Second trial: Cheng Xuhui
Third trial: Liu Xiongfei
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