The five major banks should unify the mortgage to LPR! For property buyers, is it saved or lost?

On August 12, the five major state-owned banks made moves at the same time, and the LPR conversion really entered the last moment.

China Industrial and Commercial Bank, China Construction Bank, Agricultural Bank, China Bank and Postal Savings Bank also announced that from August 25th, individual housing loans within the range of batch conversion will be uniformly adjusted to LPR pricing method according to relevant rules.

You don't make a decision, the bank makes a decision for you!

My mortgage interest rate has been converted?

Recently, readers have been bursting, and many people have received a reminder from the loan bank.

Others have discovered how it becomes an LPR interest rate when doing nothing.

A fan said that he didn't pay attention to the text message he received and was inexplicably converted into LPR interest rate by the bank. Finally, through the operation of the mobile banking App, the interest rate execution mode in the loan contract is reversed.

This is because, in the final sprint stage of LPR pricing benchmark conversion, some banks began to convert defaults in batches. In other words, I will inform you by SMS, etc. If there is no objection, the bank will directly convert it into LPR interest rate for you.

Take a quick look at the news in the mobile banking App and the short messages sent by the bank.

Why did the bank urge you to transfer to LPR?

12 On August 25th, China Industrial and Commercial Bank, China Construction Bank, Agricultural Bank, Bank of China and Postal Savings Bank announced at the same time that individual housing loans within the range of batch conversion will be uniformly adjusted to LPR pricing mode according to relevant rules. At the same time, it is clear in the announcement that after the batch conversion is completed, if there is any objection to the conversion result, it can be transferred back through relevant channels or negotiated with the loan handling bank before 65438+February 3 1 (inclusive).

At the end of 65438+February last year, Announcement [20 19] No.30 of the People's Bank of China was issued, which threw out the concept of loan market quotation (LPR) and began to promote this reform.

According to the official, LPR has the following advantages: in the process of restructuring, the loan interest rate is reduced, which can directly reduce the interest expenses of enterprises; From the next repricing cycle, enterprises can also enjoy the policy dividend brought by the decline of LPR, and the effect of reducing financing costs will be more obvious; The market-oriented LPR better reflects the change of market supply and demand, and the transmission efficiency of monetary policy to loan interest rate is obviously improved.

So how many people have made LPR conversion at present?

On August 6th, the Monetary Policy Implementation Report of China in the Second Quarter released by the Monetary Policy Analysis Group of the People's Bank of China showed that by the end of June, the conversion progress of stock loan pricing benchmark had reached 55%. Among them, the conversion progress of existing enterprise loans is 76%.

Will it really be more cost-effective after interest rate adjustment?

Suggestion: LPR floating interest rate or fixed interest rate?

From June 65438+ 10 to July, the price of LPR kept falling, and the LPR released in June was 4.65%, which was 10 basis point lower than that in March.

In a word, in the short term, with the floating interest rate of LPR, our mortgage loan is reduced, and we can save several Starbucks every month.

In the long run, choosing a fixed interest rate is also justified. First of all, the starting point of LPR5' s five-year interest rate (corresponding to the mortgage interest rate) is 4.8% (based on 12 months), and there is limited room for further interest rate reduction, so it is difficult to drop to 3.25% close to the provident fund interest rate. Secondly, interest rates and housing prices are often in the opposite relationship: high interest rates lead to lower housing prices and low interest rates lead to higher housing prices. In the future, if the mortgage interest rate drops sharply, the house price will rise with a high probability. Although the fixed interest rate is chosen, the floating interest rate is higher, but the house price will rise and the value will be stable. If the mortgage interest rate rises, choose a fixed interest rate and the mortgage will not be affected.

LPR is on the decline at present, but no one can predict the future. Here, a little advice:

If your bank doesn't support it, choose not to support it and keep the fixed interest rate unchanged.

If your bank has to choose between two, it depends: if you want to pay off your loan within five years, you can save 100 yuan a month by choosing LPR interest rate; If the loan is long-term, choose a fixed interest rate, and your mood will not be affected by the fluctuation of LPR interest rate. We don't need that one hundred dollars a month. Even if LPR drops sharply in the future, house prices will rise accordingly, and there will not necessarily be much loss.