Text | Observe Jun
The country has finally amplified its moves! The central bank announced a new deal for the property market, with a minimum down payment of 15% for house purchases, and there is also a chance to achieve "0 interest rate" on housing loans!
Big news, on the afternoon of May 17, the central bank suddenly announced a new deal for the property market! Judging from the content, the new deal for the property market mainly involves three aspects.
According to the latest policy of the central bank, the minimum down payment ratio of commercial personal loans for the first home is adjusted to no less than 15%.
Before that, the down payment ratio of an individual's first home was 30%, which means that a house of 1 million yuan originally required a down payment of 300,000 yuan to buy, but now only 150,000 yuan can get on the car, this news is a major positive for people who need to buy a house and can afford to buy a house.
This was followed by a reduction in the interest rate on provident fund loans by 0.25 percentage points. After the reduction, the interest rate of the first set of personal housing provident fund loans for less than 5 years and more than 5 years is 2.35% and 2.85% respectively. It should be said that this news is also a major positive for families with CPF, which means that the mortgage interest rate is lower, and the monthly repayment pressure will be reduced.
Finally, the lower limit of the interest rate policy for commercial personal housing loans for first and second homes at the national level will be abolished, and in my opinion, this adjustment is actually the largest. Why? Very simply, the cancellation of the lower limit of the personal housing loan interest rate means that the bank can decide the mortgage interest rate independently, as long as the bank is willing, then even if you do not have a provident fund, the mortgage interest rate has the opportunity to drop to below 3%, and even has the opportunity to achieve 0 interest rate on the mortgage!
You must know that most developers borrow money from banks to build houses, and if the house cannot be sold, then the bank will not be able to recover the loan, and there will be bad debts. Therefore, from the bank's point of view, it hopes that the developer's house will be sold, and considering the current environment, in order to stimulate Chinese people to buy houses, it is entirely possible for the bank to make profits and take the initiative to reduce the mortgage interest rate.
In fact, this is not without precedent. Previously, some Danish banks have launched 20-year fixed-rate mortgages with interest rates of 0, and European and American banks have launched 30-year mortgages with interest rates of 0.5%. Through the experience of European and American countries, and now that the country has also abolished the lower limit of mortgage interest rates, we do have reason to believe that once the house really cannot be sold, it is entirely possible for banks to launch mortgages with interest rates below 1% or even 0 in order to stimulate consumers to buy houses.
Of course, don't be too happy, to put it bluntly, this is only possible in extreme circumstances. In the final analysis, the current property market is not bad to that extent, there are still a lot of people who need to buy a house, and with a population of more than one billion in China, it is not difficult to digest the current property market inventory.
In general, with the introduction of the central bank's new property market policy, the domestic property market should be reactivated, as for whether it can pass the test, it is unknown, but to solve some problems, it should not be a big problem. And I also think that for families who just need it, now is indeed a good time to enter. Because, if this big move really reactivates the property market, the favorable policies will definitely be recycled, and it will be difficult to pick up the leaks when the time comes. What do you think?