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Original headline: China’s LPR unadjusted mortgage interest rate falls steady for 7 consecutive months
China News Service, Beijing, November 20 (Reporter Pang Wuji) The People’s Bank of China authorized the National Interbank Funding Center to announce the latest loan market rate (LPR) on 20, which is 1 year LPR 3.85% , 5 years The above LPR is 4.65%. So far, LPR has been “stuck” for 7 consecutive months.
Xu Xiaole, chief market analyst at the Shell Research Institute, believes that current monetary policy is broadly in line with the economic recovery and that there is no need to lower the LPR. Since the second half of the year, macroeconomic performance has continued to improve and monetary policy has gradually returned to stability from the easing state in the first half of the year.
The mortgage interest rate refers to the LPR with a period of more than 5 years. Xu Xiaole pointed out that with LPR’s long-term stability and liquidity returning to normal, mortgage interest rates have bottomed out since the second half of the year and the bank lending cycle has bottomed out.
Among the 36-city traditional mortgage interest rates tracked by the Shell Research Institute in November, the first set of interest rates was 5.22% and the second set of interest rates was 5.51%. The stable base characteristics remained unchanged from the previous month, with a year-over-year decrease of 36 and 39 basis points respectively. The average loan term for 36 cities was 46 days, extended by 4 days from the previous month, and returned to the level of May this year after being extended for three consecutive months. Since the fourth quarter, the pace of mortgage loans is accelerated and slowed.
The November home loan market report released by the Rong360 Big Data Research Institute also showed that after the “nine consecutive falls” in home loan interest rates ended in October, the first mortgage interest rates for the home in 41 cities of China remained unchanged for two consecutive months. According to the agency’s data, monitoring mortgage interest rate data from 674 bank branches in 41 key cities across the country shows that as of November 2020 (the data monitoring period runs from 20 October 2020 to 18 November 2020) , the first home in the country The average interest rate on loans was 5.24%, the same as last month; the average interest rate on second home mortgages was 5.54%, a slight decrease of 1 basis point compared to the previous month.
Xu Xiaole predicts that this year’s mortgage interest rate will run out steadily. Before the end of monetary policy will continue to remain stable, the main direction of short-term monetary policy through medium-term lending (MLF) and open market operations and other tools to maintain adequate and reasonable current and future liquidity, i official interest rates remain stable, mortgage interest rates are expected to continue to remain at smooth lows. (To end)
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