In April, the LPR continued to "stand still".
Yesterday, the central bank announced the latest loan market quotation rate (LPR), which is 3.7% for 1-year LPR and 4.6% for 5-year or more, and will remain unchanged for 4 months.
The reason for the change is that on April 15, the central bank launched a 150 billion yuan 1-year medium-term lending facility (MLF), and the winning interest rate remained unchanged; second, the recent RRR cut and other measures have not yet enabled banks to reach the minimum step of 5 basis points of spread pressure drop.
Although LPR maintained the status quo, many banks in Guangzhou once again actively adjusted interest rates.
At the same time, the financial policy has been relaxed, many loan intermediaries have been active again, and Guangzhou's operating loans and housing loan operations have also begun to re-emerge.
What signal?
The failure of the central bank's interest rate cut does not prevent the further decline of mortgage interest rates in Guangzhou.
Compared with last month, the basis point of mortgage interest rates of many banks in Guangzhou has been lowered again.
ICBC, Agricultural Bank of China, CCB, the first home loan interest rate can now be as low as 5.2%, the second home loan interest rate as low as 5.4%, compared with the previous month generally fell by 20BP;
Everbright Bank and Huaxia Bank, the interest rate of the first home loan was adjusted to 5%, which fell by 20BP;
Foreign bank HSBC, the minimum interest rate has been level with the LPR with a maturity of more than 5 years, the minimum 4.6%...
Overall mortgage interest rates hit another nearly one-year low.
However, at present, the interest rate of the first home loan of the banks in Guangzhou is still generally above 5%, and the second home is above 5.2%, which is slow to reduce the speed and has limited stimulation effect on the market.
In the past March, the Guangzhou property market was tepid and the recovery was weak.
New housing transactions fell by 35% year-on-year, and although the second-hand showed signs of rebound, there was still a long way to go from the peak of the year, and the overall color was average.
In terms of loan review, there are also adjustments.
The down payment traceability review has been simplified, the review time has been greatly shortened, and in addition, the source of the down payment has also been basically investigated, and the requirements for flowing water are not as high as before.
In terms of lending cycle, the review of loans by banks around the world is more optimistic, and many banks will accelerate the lending speed to less than one month after the transfer, and even some banks say that "almost 3-4 working days after the pledge can be released".
The financial positive continues, and most people in the industry believe that in the context of supervision continuing to increase the recovery of real estate finance, there is still room for mortgage interest rates to be reduced.
On April 15, the central bank officially announced a comprehensive reduction of 0.25%, releasing a total of about 530 billion yuan of long-term funds.
On the same day, the market interest rate pricing self-regulatory mechanism held a meeting to encourage small and medium-sized banks to reduce the floating ceiling of deposit interest rates by about 10 basis points (BP).
On April 18, the central bank and the foreign exchange bureau issued 23 financial support measures, clarifying:
"Implement a differentiated housing credit policy due to the city's policies, and reasonably determine the minimum down payment ratio and minimum loan interest rate requirements for commercial personal housing loans in the jurisdiction."
On April 19, the central bank held a symposium on financial support for the real economy, saying:
Real estate financing will be kept stable and orderly, credit policies should be optimized in a timely manner, and the repayment plan for personal housing loans for people affected by the epidemic should be flexibly adjusted.
This means that banks in more cities will adjust mortgage rates according to local conditions.
In fact, since April, more and more hot cities have joined the team of house purchase policy relaxation.
The operation of the Guangzhou property market still needs to be further improved, and there may be further actions in terms of loan policies.
Buyers may wish to wait for the wind to come, seize the opportunity of interest rate cuts, and reduce the cost of buying a house.
It is worth noting that due to the recent relaxation of a series of financial policies, the operation of "operating loan misappropriation for real estate" has also begun to emerge.
The intelligence brother saw this operation in the intermediary circle of friends, and the promotional copywriter wrote:
"Operating loans can be used for real estate for a maximum period of 20 years".
To this end, the intelligence brother consulted the above-mentioned intermediary, who said that it is necessary to determine the plan according to the market value of the property, the bank credit, the funds needed, etc., and you can mortgage the bank.
In terms of interest rates on loans, the equal principal and interest rates are around 5% per annum.
In contrast, interest rates are not low, and the arbitrage space is obviously narrower than last year.
It should be mentioned that there are risks in the operation of the mortgage repayment.
After 2020, the regulator has continued to maintain a high-pressure state on the diversion of operating loans to the property market.
Although the loan intermediary said that there would be no risk, if it was really discovered, the bank had the right to stop the loan and recover the loan, and it may even be "credited".
At present, the interest rate still has room to fall, if you want to buy a second suite, in fact, do not use this illegal way to exploit the loophole.
The process of replacing the mortgage with the operating loan will be mixed with various fees and costs, and the overall cost may not be much cheaper than the mortgage.
More importantly, in the process of advancing funds to repay the mortgage, if the funds are suddenly tight, the house may also be auctioned.
Buyers, don't try it easily.