In order to promote the steady and healthy development of the real estate market, up to now, many cities have completely canceled the purchase restriction policy. After the city fully lifts the purchase restrictions, it is good news for groups who want to buy a house in the city but can't meet the conditions, and they can buy a house. Take my high school friend as an example, she worked in Guangzhou after graduation and wanted to buy a house in Guangzhou, but the housing price was too high, so she also shifted her attention to Changsha, and it would be relatively easier for her to buy a house in Changsha.
Since many cities have completely canceled the purchase restriction policy, relevant supporting policies will also be introduced. On May 17, 2024, the official released a blockbuster good news "cancel the lower limit of the interest rate policy for commercial personal housing loans for the first and second houses in the country", what does this mean? This is good news not only for people who need to buy a home, but also for banks.
In addition, a notice was also issued to adjust the minimum down payment ratio, in which the minimum down payment ratio for the first home commercial loan was adjusted to no less than 15%, and the second home was adjusted to no less than 25%. That is to say, to buy a house of 1 million, the minimum down payment ratio is only 150,000. However, after buying it, the mortgage will have to be repaid every month, which depends on how young people choose. Under the adjustment of a number of favorable policies, the mainland property market will usher in a turnaround.
Regarding the "cancellation of the lower limit of the interest rate of the first and second sets of personal mortgages", some people may not understand this very well. What does it mean to remove the mortgage interest rate floor?
The abolition of the mortgage interest rate means that the central bank will no longer set a lower limit on the loan interest rate for commercial personal housing loans for the first and second houses, and will be liberalized in full. Each province can independently determine the lower and lower limits of commercial mortgage interest rates within its jurisdiction according to the city's policies, but the premise is that it is reasonable.
This also shows that the commercial loan interest rates in various provinces and cities are not adjusted as they want, and there will definitely be some standardization, otherwise the market will be completely chaotic. The level of interest rates for each mortgage will be reasonably determined, which will also allow financial institutions to be more flexible in pricing.
Before that, if you buy a commercial loan in the city, the interest rate of the second home loan is higher. With the cancellation, there is no longer a restriction, you go to the bank to take a loan to buy a house, and you will be given the same loan interest rate, and it will not distinguish whether you are a first home or a second home.
What is the minimum mortgage interest rate that can be abolished?
The cancellation of the lower limit of the mortgage interest rate can reach the percentage depends on the news of the adjustment of various commercial banks. After all, according to the notice, it is a city-specific policy, and the mortgage interest rate in each region is definitely different.
What is the significance of removing the mortgage interest rate floor?
This is of great significance to buyers who just need to buy a house, and it is completely good news. Now that housing prices have dropped a lot, interest rates have fallen further, and buying a house can save a lot of money, which is another major measure of the state to stimulate the property market.
In short, the abolition of the lower limit of the mortgage interest rate is good news for those who just need to buy a house, and at the same time, we are also looking forward to adjusting the interest rate of the existing mortgage, so that the people can enjoy the real benefits.
#取消首套房和二套房商贷利率下限#