LPR cut interest twice in the first half of the year? 94 yuan less than the monthly supply of one million housing loans

category:Finance
 LPR cut interest twice in the first half of the year? 94 yuan less than the monthly supply of one million housing loans


In June, the price of LPR remained unchanged and the interest rate has been cut twice in half a year

According to statistics, since the central bank launched the LPR reform in August 2019, the one-year LPR has been cut by 50 basis points accumulatively compared with the previous one-year benchmark interest rate, and 30 basis points since this year; while the five-year and above LPR has been cut by 25 basis points accumulatively, and 15 basis points since this year.

Yang Chang, chief analyst of the policy group of Zhongtai Securities Research Institute, told people.com finance and economics that considering that the quotation mechanism of one-year LPR is linked to the interest rate of one-year MLF, the central bank cut back on June 15 and continued to make MLF, with the interest rate maintained at 2.95%, keeping the interest rate unchanged for the second consecutive month, which indicates that the LPR quotation is flat.

He said that the interest rate level is still expected to fall in the second half of the year, which also has a positive role in stimulating housing transactions. It is expected that the loan policy of subsequent commercial banks will be further relaxed to facilitate the handling of mortgage loan business, which will help activate the waiting demand for house purchase and promote the further recovery of market transactions.

LPR new mechanism helps to reduce loan cost

According to the regulations of the central bank, from January 1, 2020, financial institutions are not allowed to sign floating rate loan contracts priced by reference to the benchmark lending rate. The pricing benchmark of the stock floating rate loan needs to be converted into LPR; from March 1 this year, the stock housing loan can be converted into LPR interest rate according to negotiation. At the same time, the conversion of pricing benchmark of stock floating rate loan should be completed before August 31, 2020 in principle.

Since the beginning of the year, the LPR + floating-point pricing method has been conducive to reducing the cost of loans and reducing the burden on buyers to a certain extent. Yang Chang said.

Yan Yuejin believes that from the perspective of the housing market, the reduction of the housing loan interest rate in the first half of this year will help reduce the pressure of monthly supply, and objectively help to activate part of the waiting demand for housing, that is, it has a certain explanation for the recent active transaction of housing purchase.

Up to now, the reserve ratio of small and medium-sized deposit financial institutions has been lowered three times, and the year-on-year growth rate of M2 in recent March rose to more than 10% again after 35 months. After the early reduction of standards and interest rates, liquidity in the market has been relatively abundant. Xu Xiaole said that in addition to the recently released reduction signal, it is expected to land in the near future, and it is not necessary to continue to reduce LPR.

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Read the annual report of Zhongtai Automobile Co., Ltd. in which more than 10 financial institutions were involved in the bankruptcy and reorganization of the operator of Yesanpo, a 5A scenic spot, and more than 80% of the stock price of the 100 billion payment giant, net profit loss of 11.19 billion yuan in 2019. Source: Peoples net editor in charge: Zhong Qiming_ NF5619