Existing mortgage interest rates have entered the normal range, and some banks have shortened the resale cycle_Economy_Macro Channel Home Page_Financial Network-CAIJING.COM. CN

● Our reporter Shi Shiyu

On November 3, a reporter from China Securities News learned that some banks have begun accepting applications for changes to the existing mortgage interest rate revaluation cycle. “On the morning of November 1, I applied for a change of resale cycle from 12 months to 3 months on the Bank of China App. In the evening of the same day, I received a text message reminding me that the change application had been approved. ” Ms. Bai from Shenzhen told the Reporter, “November 3 is the latest loan repayment date after the change.

On October 31, many commercial banks such as the Industrial and Commercial Bank of China, the Agricultural Bank of China, and the China Construction Bank issued notices that starting from November 1, they will gradually implement new pricing methods for loan interest rates commercial personal housing, including conversion. the interest rate as well as the point value and repricing of the interest rate price cycle.

Shorten recycling cycle

“My original repayment date was June 11th. Mr. Bian of Nanjing told reporters.

In this resale cycle variation, borrowers can choose one of three cycles of 3 months, 6 months, and 12 months to refinance. For example, the previous loan repayment date was March 15. If the repayment cycle is changed to three months, the repayment dates will be changed to March 15, June 15, 15 September and 12 December.

Wang Qing, the chief macro analyst of Oriental Jincheng, said that this policy removes the previous restriction on the shortest one-year repayment cycle of mortgage interest rates. Shortening the adjustment cycle for existing mortgage interest rates means that the link between existing mortgage interest rates and new mortgage interest rates will further strengthen, weakening the need for borrowers to choose to repay their loans early due to the interest rate difference between new and old. It affects the housing consumption of residents and helps to promote the recovery of the real estate market.

However, some banks remind borrowers that each mortgage loan has only one chance to change the repayment cycle before the loan is settled, and that multiple changes are not allowed. Changes cannot be undone, so you should choose carefully after considering various factors.

Many banks said that a shorter revaluation cycle is not necessarily more appropriate. In the downward trend of loan interest rates, the shorter the resale cycle, the faster borrowers can get low interest rates on the other hand, in the upward trend of loan interest rates, the shorter the resale cycle, the earlier borrowers have to bear high interest rates; .

Change interest rates dynamically

Starting November 1, existing mortgage interest rates have entered a standard adjustment phase. When the borrower’s mortgage interest rate is more than 30 basis points higher than the national average new mortgage interest rate by more than 30 basis points in the previous quarter, the borrower can apply to reduce the point plus a reduction to the national new mortgage interest rate average plus a basis of 30. points.

The People’s Bank of China announces the average interest rate of housing loans issued nationwide in the last quarter at the end of January, April, July and October.

Regarding this change, the relevant person in charge of the People’s Bank of China said that both parties can change the point increase range through negotiations and contract amendments, etc., to more accurately reflect changes in market supply and demand , borrower’s risk premium and others. factors.

“The competition mechanism of the market can encourage commercial banks to negotiate independently with borrowers and change the point increase range in good time. batch changes.

Analysts believe that the new mortgage loan pricing mechanism may enable existing mortgage interest rates to reflect changes in benchmark pricing (LPR) in a timely manner. At the same time, establishing a regular adjustment mechanism for existing mortgage interest rates will help stabilize the volume of existing mortgage loans and continue to boost market confidence.

Acceptance times vary slightly

The time each bank starts accepting changes to the replacement cycle varies. The reporter learned that, basically in line with the Bank of China, Bank of Communications has also accepted and terminated modification applications from some borrowers. In addition, several state-owned banks, joint-stock banks, city commercial banks and other banks announced that they will start accepting applications for resale cycle changes no later than 15 Samhain

Taking the six major state-owned banks as an example, the Bank of China said that starting from November 1, borrowers can log into the bank’s mobile banking app and apply for a change in rating points interest or resale cycle through “Mortgage Loan Interest Rate Adjustment”. The China Postal Savings Bank said borrowers can apply to the bank from November 7 to change the repayment cycle If the conditions are met, it will the bank changes in good time.

The Industrial and Commercial Bank of China, the Construction Bank of China, the Agricultural Bank of China, and the Bank of Communications all said they will begin accepting applications for resale cycle changes no later than November 15.

Among them, the Agricultural Bank of China said that if the repayment date is selected as the loan issuance date, starting from 21:00 on November 1, the borrower can apply made for the change of resale cycle through the mobile banking of the Agricultural Bank of China self-. service If an application for a resale cycle change is submitted after November 5 (inclusive), if the conditions are met, the bank will complete the change the day after the application date .

(Editor: Wen Jing)