Today, a new round of LPR was announced:
The 1-year LPR is 3.45% and the 5-year LPR is 3.95%. (The above LPR is valid until the next LPR is issued)
In fact, the central bank has cut interest rates three times since last year.
Among them, in June, the 1-year and 5-year LPR were both lowered by 10 basis points. In August, the 1-year LPR was cut by 10 basis points, while the 5-year LPR remained unchanged.
Then came February 2024, when the LPR with a maturity of more than 5 years fell by 25 basis points, which is equivalent to about twice the rate cuts that have been common in recent years, which is significantly higher than market expectations.
In April, the LPR maintained the value of March, which is still unchanged, in fact, the market has expected it.
Remember April 15, when the central bank announced that it would carry out a 2 billion yuan open market reverse repurchase operation and a 100 billion yuan medium-term lending facility (MLF) operation.
At present, the interest rate of the first home loan in Xi'an is still 3.75% (LPR-20), and the interest rate of the second home loan is 4.15% (LPR+20).
If you take a mortgage of 1 million and repay the monthly payment for 30 years with equal principal and interest, it is more concrete:
| 利率5.65%，月供约5772元，总利息约107万，总还款约207万元；
| 利率4.6%，月供约5126元，总利息约84万，总还款约184万元；
| 利率4.4%，月供约5007元，总利息约80万，总还款约180万元；
| 利率4.25%，月供约4919元，总利息约77万，总还款约177万元；
| 利率4.10%，月供约4831元，总利息约73万，总还款约173万元；
| 利率4%，月供约4774元，总利息约72万，总还款约171.86万元；
| 利率3.75%，月供约4631元，总利息约66万，总还款约166万元；
That is to say, compared with buyers who stand guard at a high interest rate of 5.65%, if they apply for the first home loan at the latest 3.75%, the monthly payment will be directly reduced by about 1,141 yuan, and the total interest and total repayment will be reduced by about 410,000 yuan each!
In all probability, there is still room for decline.
However, while interest rates are likely to continue to fall, the downward cycle will be longer. If the deposit interest rate is lowered, the RRR is cut or the interest rate cut is implemented, it will still create room for the LPR to be lowered again.
Do you think there is still room for the mortgage interest rate in Xi'an to be lowered in the future? Welcome to leave a message to discuss~