The quoted interest rate (LPR) in the loan market ended the fluctuation for many months and ushered in the first downward adjustment since last August. The following small series will reduce LPR to 1 million mortgage for 30 years, which is 2 1 0,000 yuan less. Let's take a look, hoping to bring some reference.
LPR lowered the mortgage by one million yuan, which will be 2 1 1,000 yuan less after 30 years.
At 9: 00 1 59, the People's Bank of China authorized the National Interbank Funding Center to announce that the quoted interest rate (LPR) of the loan market on June 20, 2023 was:1year LPR of 3.55%, down 10 basis point, and the LPR of more than five years was 4.2%, which was also down/kloc. It was 4.3% before.
In early June, state-owned banks and a number of national joint-stock banks lowered their deposit listing interest rates, with 2-year deposits down 10bp and 3-year and 5-year deposits down 15bp. Subsequently, the policy interest rate was lowered. 1On June 3rd, 8, the 7-day reverse repo rate, that is, the short-term policy rate, was lowered for the first time in a month, and the interest rates of SLF and MLF were lowered at the same time 10bp.
LPR adjustment is related to the "money bag" of loan buyers. With the reduction of LPR related to personal housing mortgage loans for more than five years, mortgage owners will have the opportunity to enjoy the policy "big red envelope".
If the commercial loan amount is 6,543,800 yuan, the loan lasts for 30 years, and the repayment methods of principal and interest are equal, the LPR will be reduced by 654.38+00 basis points, the monthly payment will be reduced by 58.54 yuan, and the accumulated monthly payment for 30 years will be reduced by 2,654,380 yuan.
However, this does not mean that mortgage owners will definitely save money. For buyers who give up LPR and choose fixed interest rate, the mortgage interest rate has nothing to do with LPR adjustment, and the mortgage will not change; For existing customers who have converted to LPR pricing rate, the repricing period and repricing date should be considered, and the monthly supply will remain unchanged before the repricing date.
Specifically, most banks began to adjust from 1 month of the New Year. Assuming that the repricing period agreed between the buyer and the bank is 1 year and the repricing date is 1 day every year, the five-year LPR reduction this month will not affect the monthly mortgage repayment. In 2024, many people will have mortgages on 1 month.
At present, the lower limit of the national unified first-home commercial personal housing loan interest rate is 4. 1%. After the five-year LPR is lowered 10BP, the lower limit of unified mortgage interest rate is expected to break through the 4% mark.
How does LPR downgrade affect mortgage loans?
According to the latest news released by the central bank official website at 9: 30, the People's Bank of China allowed the national interbank lending center. On April 20, 2020, the loan market quoted interest rate (LPR) was 65,438+0-year LPR3.85%, and over 5-year LPR4.65%. The above LPR is valid until the next version of LPR is released. Next, Bian Xiao will introduce the impact of LPR interest rate cuts on housing loans.
Compared with the data of LPR in March, the LPR of 1 year is 4.05%, and that of more than 5 years is 4.75%. This time, the LPR of 1 year and over 5 years decreased by 20 basis points and 10 basis points respectively, which was also the biggest decline since last August.
According to market analysis, the decline of LPR interest rate further reflects the downward direction of five-year or medium-and long-term loans, which has a positive effect on reducing the cost including housing loans.
LPR breaks 4 a year.
The reporter found that since the LPR reform in August last year, LPR has fallen by 35 basis points in one year and 20 basis points in five years.
This LPR quotation is in line with market expectations. In order to guide the decline of loan interest rate, the central bank has made full preparations before determining the price. After the interest rate of the central bank's reverse repurchase operation dropped by 20 basis points at the end of March 7, the winning bid rate of the new round of MLF operation launched by the central bank also dropped by 20 basis points on the morning of April 15.
According to the previous rules, it is normal for the central bank to conduct MLF operation in the middle of the month, and the operation window is reserved for guiding LPR quotation. Reverse repurchase -MLF-LPR has become the standard operation mode for the central bank to guide the reduction of financing costs.
From the perspective of overseas markets, central banks in many countries have released water. In contrast, China's monetary policy remained unchanged, and the LPR interest rate remained unchanged in March.
However, in the face of the global impact of the epidemic, China's monetary policy has intensified its countercyclical adjustment. Since the beginning of this year, the central bank has used quantitative monetary policy tools such as RRR reduction, refinancing and rediscounting, and MLF to encourage financial institutions to increase their support for the real economy while maintaining a reasonable and abundant liquidity.
How much mortgage will lpr reduce?
The two key points of the downward adjustment of mortgage interest rate with lpr interest rate are:
1, the mortgage interest rate is set using the floating interest rate of lpr in commercial loans, and the mortgage interest rate =lpr interest rate+plus a little bit, and the mortgage interest rate can only be lowered to the nominal value obtained by lpr+plus a little bit.
2. The 2.lpr interest rate can be adjusted 12 times a year, and will be upgraded on the 20th of each month. However, the change cycle of mortgage interest rate is generally once a year, and the mortgage interest rate is re-priced at 65438+ 10/0 every year, which is obtained by adding a little bit to the lpr+ in February of the previous year. Therefore, after the lpr is lowered, it is unknown whether, when and how much the housing loan will be lowered.
take for example
Assuming that the cost of housing loan is 200,000 yuan, and the principal of the loan remains unchanged for 20 years, lpr floating interest rate is adopted for pricing. If the number is 0. 1%, it will not change. In 2022, the implementation interest rate of housing loans will be 4.75%, and the repricing number will be 65438+ 1 per year. Like this:
1. If the interest rate of the upgraded lpr over five years is 4.3% on February 20th, 2022, the interest rate of the new housing loan will be 4.3%+0. 1% = 4.4% after re-pricing on October 20th, 2023.
2. The mortgage interest rate is 4.75% in 2022, and the monthly mortgage repayment = 1, 292.45 yuan. In 2023, the new interest rate will be 4.4%, the monthly payment will be = 1254.53 yuan, and the monthly payment will be reduced by 37.92 yuan.
Is it feasible to lower interest rates and repay loans in advance?
If you want to save the loan interest, even if the interest rate is lowered, it is appropriate to repay the loan in advance.
The reason is:
1, the mortgage interest rate is much lower than the interest saved by repaying the loan in advance. The earlier the loan is repaid in advance, the greater the interest saved.
For example:
With a loan of 500,000 yuan, the principal and interest will be repaid in 30 years, and the interest rate will be reduced from 4.85% to 4.75%. This reduction of 0. 1% can only reduce the total loan interest by 6.5438+0 million, but if the loan is repaid 20 years in advance, the total annual interest will be saved by more than 200,000 yuan.
2. After the 2.LPR interest rate is lowered, the mortgage interest rate cannot be lowered immediately, and it is generally changed once a year.
For example:
The mortgage interest rate is set at 65438+ 10/month every June. Referring to the LPR interest rate updated in June 65438+February last year, the new pricing is obtained, which will remain unchanged in the following year.
In other words, no matter how the LPR interest rate is lowered this year, the mortgage interest rate will not follow the change and can only be adjusted on the repricing date. If the LPR interest rate rises at the initial stage of adjustment, the mortgage interest rate will also rise, except that the loan interest may be higher than before.
What's the change of housing loan when choosing new LPR?
If the mortgage is 654.38+00,000 yuan, and the principal and interest will be repaid in 30 years, the monthly payment will be reduced by 60 yuan for every 654.38+00 basis points of LPR over five years. After April 5th, the LPR decreased from 654.38+00 basis points to 4.65%, and the monthly salary decreased from 52 16.47 yuan to 5 156 yuan.
The reporter learned from a number of banks in Beijing that the interest rate of the first commercial personal housing loan in Beijing is not lower than the LPR in the same period. In other words, the lower limit of the interest rate of the first individual housing loan is 4.75%, and 0.55%=5.3%. After the LPR is lowered by 65,438+00 basis points for more than five years, the housing loan interest rate is 5.
LPR means that LPR is published once a month on 20th, but the corresponding actual execution interest rate of housing loan will not be adjusted once a month, and the price cycle is usually 1 year. Since most banks stipulate that the repricing date is 1 day per year, the latest reference LPR for converting housing loans should be the LPR published in June 2020 for more than 5 years.
The reporter's calculation shows that after 65438+ February 5 this year, the LPR is still 4.65%. When buyers buy new houses and use the new LPR housing loan interest rate (regardless of the anchoring state of the interest rate), the 30-year average capital repayment 1 10,000 yuan housing loan, and the 202 1 year monthly housing loan repayment is 549 1 yuan.
Up to now, the five-year LPR is 4.75%. If the interest rate of the first home in Beijing is 5.3%(4.75%5 basis points), the monthly housing loan repayment amount is 5,553 yuan. Therefore, after the implementation of the new LPR interest rate, the monthly housing loan will reduce 62 yuan.
According to the interest rate comparison of benchmark interest rate fluctuation 10% of major banks in Beijing, that is, 5. 39% (excluding the fluctuation or discount of interest rate of buyers), after the fixed interest rate is implemented, the monthly salary is 5609 yuan. In this way, the buyers who implement the latest LPR in new houses can save 165433 per month compared with those who choose a fixed interest rate (no floating or discount).
Zhang Dawei, chief analyst of Zhongyuan Real Estate, believes that on the one hand, real estate insists on not speculating in real estate, but it must be stable. Lowering interest rates will help to keep real estate expectations stable.