A few days ago, the Hohhot Municipal Bureau of Housing and Urban-Rural Development announced that the first housing loan interest rate plus the lower limit will implement the loan market quoted rate (LPR) minus 20 basis points, and the adjusted interest rate level has dropped to 4.25%.
A reporter from China Securities Journal, China Securities Taurus found that in addition to Hohhot, some banks in Jinan, Qingdao, Suzhou, Zhengzhou, Tianjin and other places have also adjusted the minimum first-home loan interest rate to 4.25%. In addition, a number of banks said that the current personal loan amount is sufficient, and the approval and loan cycle is significantly shorter than before.
The first set of loan interest rates in first-tier cities are not significantly reduced
"This is the lowest level of personal housing loan interest rates in Inner Mongolia in recent years." A staff member of a branch of the Industrial and Commercial Bank of China in Hohhot told reporters. In addition, he also said that after the lower limit of interest rates is determined, the banks may complete the adjustment in the near future.
It is worth noting that in most first-tier cities, the first set of loan interest rates are not significantly reduced. Except for the floating and downward adjustment with the adjustment of LPR, there has not been much change in the addition of points.
A staff member of the Personal Loan Center of China Construction Bank Beijing Branch told reporters that the current first-home loan interest rate is 5%, which has been reduced by 15 basis points with the LPR of more than 5 years, but the increase point remains unchanged at 55 basis points, and the second home loan interest rate plus point is 105 basis points.
The situation in Shanghai, Shenzhen and other places is similar to that in Beijing. Most banks add points on the basis of LPR and maintain the floating point within 5 points, which is basically stable.
The situation in Guangzhou is slightly different. In recent years, various banks in Guangzhou have continued to reduce mortgage interest rates. At present, some banks have told reporters that they can apply for a minimum price of 4.25%. A loan consultant of a foreign bank in Tianhe District, Guangzhou revealed to reporters: "Before, we have already reduced by 20 basis points. After this LPR adjustment, the interest rate is directly reduced to 4.25%."
However, this interest rate level is not common in the Guangzhou area, and some banks have higher requirements for the application qualification for the lowest interest rate. The above-mentioned loan consultant said, "Only some properties that are listed in our bank's whitelist can try to apply for the lowest interest rate price, and they must be approved and signed by the regional leaders."
It will take time for the property market to recover
Although mortgage interest rates have been falling again and again, it will take time for the property market to recover.
According to the monitoring data of the China Index Research Institute, during the Dragon Boat Festival holiday, the transaction area of new houses in key monitored cities decreased by 40% compared with last year's Dragon Boat Festival holiday, and the declines in Wuhan, Jinan and Nanjing were all over 50%. In some cities such as Shenzhen, Qingdao, Guangzhou, etc., driven by the optimization of the policy environment and the effective control of the epidemic, the market activity has slightly improved. Affected by the epidemic, Beijing and Shanghai have low market activity.
A salesperson of a large real estate agency in Beijing told reporters: "Due to the impact of the epidemic on the Dragon Boat Festival holiday, the number of viewings has decreased a lot. It is estimated that the epidemic will be better in the past. Most customers are still waiting and watching, and there are not many people who have rigid needs and urgently need to buy a house. Some Customers will extend the wait-and-see cycle to one to two years.”
"Recently, the transaction volume of individual projects has increased, but most of them are old customers who were on the sidelines in the early stage, and there are not many new customers. The number of visitors during the Dragon Boat Festival has increased, but the transaction situation is normal, mainly due to the increase of wait-and-see customers who inquire about the new policy and see houses. ." A real estate agency in Shenzhen told reporters.
Industry insiders pointed out that the drop in interest rates can appropriately reduce the repayment pressure of borrowers and have some positive effects on residents' enthusiasm for buying houses.
Zhang Dawei, chief analyst of Centaline Real Estate, believes: "Most of the cities where the mortgage interest rate has been lowered to the benchmark interest rate are areas with relatively weak markets, and the market is under great pressure to destock. The window period for housing purchases has not yet arrived, and it is expected that the market bottom in the third quarter is expected to appear faster. "
Abundant personal loan
The reporter's investigation found that the personal housing loan amount of many banks is relatively sufficient, and the mortgage loan cycle is generally shortened in various places, with slight differences.
A loan manager in the Shenzhen area of China Merchants Bank said: "The approval is very fast, and it can be completed within 5 working days. The loan amount is quite sufficient. For loans of less than 5 million yuan, as long as the preliminary procedures are completed, the loan can be released on the same day."
Many banks in Guangzhou have increased the loan speed to within one month after the transfer, and some banks said, "The loan can be released almost 3-4 working days after the loan is issued, and the action is very fast."
In terms of loan review, some banks have simplified some materials on the basis of prudence. A number of banks said that they have weakened the review requirements for social security and account flow, mainly depending on whether they have bad credit records and important indicators such as loans and foreign debts. If the down payment is more than 50%, you only need to issue a proof of income, and there will be no rigid requirements for running water.
