China's stock loan interest rate adjustment will be officially implemented on Monday (September 25), which is expected to reduce interest expenses for more than 40 million customers.
According to the Shanghai Securities Journal, many banks have previously announced that the first home loan of the existing floating interest rate of the reference loan market quotation interest rate (LPR) will actively adjust the loan interest rate on September 25 without borrowing.For additional operations, this will reduce the cost of communication and coordination of customers, which will be conducive to the orderly implementation of the interest rate of the stock mortgage.
The report quoted the relevant persons close to the regulatory level that the average interest rate decreased by about 0.8 percentage points after the interest rate of the first set of housing loans was adjusted.It is estimated that the customer may involve more than 40 million customers, and the scale of loans involved in adjustment may reach 25 trillion yuan (S $ 4678 billion).
Chinese residents need to pay higher interest when buying a second home.However, under the end of August and early September, major cities in China did not recognize the loan policy that had been landed in the ground. When buying a second house when purchasing a second house, there were no real estate buying families in the local area. Now you can enjoy a lower credit policy for the lower home.
The interest rate of the previous two -setting house needs to be floated on the basis of LPR.Taking Beijing as an example, the interest rate of the second home loan of commercial banks needs to float about 105 base points on the basis of LPR.After reducing interest rates, most of the first settlement interest rates that meet the requirements will be reduced to LPR, which is 4.2%. After May 2022, it will be reduced to 20 basis points.
Zou Lan, director of the Department of Monetary Policy of the People's Bank of China, said at a press conference of last Wednesday (September 20) that it is expected that more than 90 % of the qualified borrowers can fully enjoy the policy as soon as possible in the first time.Dividend, the interest rate of other borrowers' stock mortgages will also be adjusted by the end of October.
According to the Securities Daily, a borrower in Beijing said that recently received text messages from China Merchants Bank, showing that starting from September 25, its loan execution interest rate will be adjusted from LPR+59 base points to LPR+0 base points.Another Shaoxing borrower said his loan would reduce 1,000 yuan (about S $ 190) per month.
