After the "three successive launches" of real estate financial policies, new policies have been implemented in various regions. How about the current changes in the interest rate and down payment ratio of individual housing loans in the Yangtze River Delta?
The 21st Century Business Herald reporter learned about the situation from banks in many cities in the Yangtze River Delta. At present, Changzhou, Hefei and other places have lowered the interest rate standard for housing loans. The interest rate for the first housing loan in Changzhou has dropped to 3.25%, which is the lower interest rate level in cities in the Yangtze River Delta. Several banks in Shanghai, Hangzhou, Nanjing and other places told reporters that there was no change for the time being; Some banks in Suzhou have suspended relevant business processing. It is expected that there will be official news next week.
In terms of market feedback, some bankers said that at present, most of the customers who consult with banks about interest rate policies are stock customers; A number of real estate brokers said that buyers still remained calm and focused on just demand.
Image source: IC photo On May 22, the reporter learned about the promotion of the new policy from several city commercial banks in the Yangtze River Delta. At present, Changzhou, Hefei and other places have lowered the housing loan interest rate standard. Suzhou is expected to have official news next week, and Shanghai, Hangzhou, Nanjing and other places are still "waiting for notice".
The reporter learned that the interest rate of Changzhou's latest first house loan has dropped from 3.45% to 3.25%, which is the lower interest rate in the Yangtze River Delta cities at present, equivalent to LPR minus 70BP. A state-owned bank in Changzhou told reporters that the minimum interest rate for the first set of housing in Changzhou has dropped from 3.45% to 3.25%, and the minimum interest rate for the second set of housing has dropped from 4.25% to 4.15%.
Hefei also followed up the new policy, and some banks reduced the mortgage interest rate of the first and second apartments to 3.45%. The relevant personnel of a branch of a state-owned bank in Hefei told reporters that it had just been reduced on May 21, "previously it was reduced by 20BP, now it is reduced by 50BP".
Although the housing loan interest rate in Suzhou remains at the previous level, some banks said that they have received the notice of adjustment and are expected to decline. The relevant person of a joint-stock bank disclosed to the reporter that after receiving the notice from the superior, the interest rate and down payment ratio of Suzhou's housing loan may be reduced. At present, relevant business processing has been suspended. "It is expected that there will be official news next Monday." At present, the interest rate standard of Suzhou's housing loan is 3.75% for the first suite and 4.25% for the second suite.
Several banks in Shanghai, Hangzhou, Nanjing and other places told reporters that there was no change for the time being.
People from two state-owned banks and a city commercial bank in Shanghai told reporters that no notice had been issued yet, "Shanghai will wait for the unified notice from the regulatory authorities". The retail staff of a city commercial bank in Hangzhou also said that the interest rate has not changed for the time being, "we are also waiting for the news to arrive".
A person from a large state-owned bank in Jiaxing told reporters that it would take some time for the policy to be implemented. "The lower limit of interest rate has been abolished in the policy, and the specific reduction depends on the specific situation of each bank". The relevant person of another bank in Jiaxing said that the new policy has not been implemented yet, "because the detailed rules have not come out".
On the whole, the implementation progress of new policies in different regions is inconsistent.
In addition to the cancellation of the lower limit of the mortgage interest rate, another important adjustment of the new policy is the decrease of the down payment proportion, that is, the down payment proportion of the first set of housing is reduced to 15%, and the down payment proportion of the second set of housing is reduced to 25%. The reporter found in the interview that the implementation progress of mortgage interest rate and down payment standard in many cities is not exactly the same.
Taking the two cities that made adjustments earlier as an example, Hefei has simultaneously lowered the mortgage interest rate and down payment ratio, that is, the down payment ratio of the first house is at least 15%, and that of the second house is at least 25%. A relevant person of a state-owned bank in Changzhou said frankly that "the down payment ratio has not yet implemented the new policy". At present, the down payment ratio of the first and second sets in Changzhou is still 20% and 30% respectively.
A relevant person from a state-owned bank in Nanjing said that at present, the interest rate of the first and second house loans in Nanjing has not been adjusted, but the down payment ratio may decline. "At present, the down payment rate for the first set of housing can be approximately 15%, but the official notice has not yet been issued. The details should be negotiated according to the customer's situation."
In Huzhou, a bank cautiously said that it has internally communicated that the down payment for the first set is 15% and that for the second set is 25%. However, it also depends on the agreement signed by the property and the notice of loan needs to be given. It is expected that a clear notice will be given soon.
The downpayment proportion reduction is regarded as the key direction needed to grasp in judging the real estate policies of various regions in the near future. Yan Yuejin, research director of E-House Research Institute, said that the signal of "the first shot of 15% down payment" in Wuhan was of great significance, which also showed that the proportion of down payment in all regions would continue to decline. It is expected that at least the proportion of down payment in all second tier cities could be reduced to 15%, which is also the key direction for judging the real estate policies in all regions, especially the housing loan policies in the near future.
In terms of the reduction of mortgage interest rate, it also shows a relatively loose trend. Yan Yuejin believes that, from the perspective of the operation of the mortgage interest rate reduction, there are important characteristics, including that the mortgage interest rate can be as low as 3.25%. At the same time, the interest rate difference between the first house and the second house is small or almost equal, which also shows that the mortgage interest rate policy is very loose.
In terms of provident fund loans, housing provident fund centers in many places, including first tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, have issued documents in response to the central bank's policies, and at the same time, they have increased the amount of provident fund loans for some people in many places. For example, Hefei proposed that the maximum amount of housing provident fund that can be loaned by the borrower's husband and wife should be adjusted to 1 million yuan; If the borrower makes normal payment unilaterally, the maximum credit limit of the housing provident fund will be adjusted to 700000 yuan.
It is understood that most of the policies related to real estate are adjusted according to the urban policies. Referring to the data disclosed in the monetary policy implementation report in the first quarter of 2024, as of the end of March, 75 of the 343 cities (prefecture level and above) in China had lowered the lower limit of interest rates for first home loans and 64 had canceled the lower limit. In March, the interest rate of newly issued individual housing loans was 3.69%, down 0.45 percentage points year on year.
How about market feedback when policies are frequently issued?
In terms of banks, a person from a large state-owned bank in Hefei told the reporter, "At present, most of the customers are in stock for consultation. Generally, like new house buyers, they are directly facing developers and intermediaries, and should be able to ask them more directly, rather than directly understand policies from banks."
Relevant people from several banks in Hangzhou and Wenzhou said that different buildings have designated banks to handle housing loan business, and developers need to consult the designated banks and outlets.
At the same time, the reporter also learned about the consultation after the introduction of the new policy through several real estate brokerage companies in the Yangtze River Delta. A number of real estate brokers said that the number of people consulting to buy houses has not changed significantly, and the number of buyers is still dominated by rigid demand.
A real estate broker in Changzhou told the reporter that the number of clients who came to inquire about buying houses did not increase significantly after the Changzhou mortgage interest rate was lowered. "It's not easy to earn money these days. Unless we just need or want to improve the housing conditions, we are very cautious about buying a house. Only when the house price really rises, can anyone want to buy a house."
Similar to the situation in Changzhou, a Suzhou real estate agent said frankly that "the reduction of mortgage interest rate and down payment cannot be stimulated ordinary people The key to consumption is just demand. " He said that at present, most of the clients consulted are concentrated in school district housing, wedding housing and other fields, and most of the buyers "buy large houses from small ones".
Shanghai has not followed up the new policies for the time being. A real estate broker of a chain institution in Pudong New Area said that the market situation is relatively stable in the near future. "It has been OK recently. The market price has also been decreasing since the end of the year, and there have always been deals in the market."
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