Since the reform in August last year to the latest 15th LPR offer, the one-year LPR has been reduced by 5 basis points in August and September last year, remained unchanged in October last year, decreased by 5 basis points in November last year, remained unchanged in December and January this year, significantly reduced 10 basis points in February, remained unchanged in April, and remained unchanged from May to September; the five-year LPR was first launched in August last year After the announcement, it did not decline in September and October last year, December and January and March this year. It was reduced by 5 basis points in November last year and February this year, and 10 basis points in April. It has remained unchanged since May.
Change anchor of housing loan interest rate the recognition degree of LPR pricing mechanism has been improved in the past year
In the face of tens of thousands of yuan, tens of thousands of yuan of purchase money, mortgage is almost every home buyers can not get around the topic. This year, whether to change anchor LPR and whether to change to fixed interest rate have become the inevitable choice of mortgage family .
Now, the LPR mechanism has been operating for one year. Taking October 8, 2019 as the time node, how do new mortgage borrowers and existing mortgage borrowers feel about LPR pricing? Securities Daily reporter conducted an interview investigation on this.
Qiqi (not her real name), who just completed the procedures for buying a house in Beijing in September this year, told reporters that what she finally chose was a combination loan from a state-owned bank, namely housing accumulation fund loan plus commercial loan. Among them, the provident fund loan line is 1.2 million yuan, with an annual interest rate of 3.25%; the commercial loan line is 730000 yuan, with an annual interest rate of 5.20% (Beijings individual housing loan pricing benchmark is: the interest rate of the first set of personal housing loan is not lower than the corresponding period LPR + 55 basis points, one basis point is equal to 0.01%; in August 2020, the LPR quotation is 4.65%, that is, 4.65% + 0.55% = 5.20%), and the total monthly loan repayment is more than 10000 yuan. Because there is no choice, the main focus of LPR pricing is the trend of interest rate changes.
My mortgage is directly transferred by the bank to LPR pricing. The borrower disclosed that the interest rate of the loan on the stock of houses in Zhengzhou was 635.5% in 2018. After converting to LPR pricing, the mobile app of loan bank shows that my mortgage pricing benchmark is LPR plus 83.5bps. As I have agreed that the adjustment will be made on January 1 of each year, the executive interest rate will not be adjusted immediately after it is converted to LPR, but will be adjusted with the change of LPR on January 1, 2021. But if calculated by 4.65% of the latest LPR quotation, the annual interest rate of my mortgage will be 5.485%, which is indeed more cost-effective than the original annual interest rate.
Mr. Jin, who lives in Handan City, Hebei Province, is also a member of the mortgage family. He converted his mortgage into LPR pricing in March this year. After the conversion, the pricing benchmark of the mortgage is LPR plus - 39 basis points, and the annual interest rate of the executed loan is 4.26%. In the past, I had to repay the loan at 3008.11 yuan per month, but in the future, I only needed to repay the loan at 2959.19 yuan a month, saving 48.92 yuan per month.
The reporter noted that the lender who passively adjusted to LPR pricing can also decide whether to return to the fixed interest rate according to the trend of LPR within the year. According to the announcement previously issued by the five major banks, if there is any objection to the conversion result after the batch conversion is completed, it can be transferred back through relevant channels or negotiated with the loan handling bank before December 31, 2020 (inclusive).
Yan Yuejin, research director of the think tank center of E-House Research Institute, suggested in an interview with Securities Daily that the LPR pricing mechanism is a market pricing behavior, and it is not recommended that the converted borrowers swap back and forth, after all, the interest rate difference itself is not big.
Talking about the future trend of LPR pricing, Yan Yuejin said, it is expected that there will be little room for subsequent LPR reduction, but the overall situation will remain low.
Extended reading is clear! Urban household registration children can inherit the right to use rural homestead! Sinopharma group: China biology prepares for mass production of new crown vaccine_ NF