The central bank has just announced an interest rate cut!
LPR 3.35% for more than 1 year,
Previously, it was 3.45%
LPR for more than 5 years is 3.85%,
Previously, it was 3.95%
Straight down 10 basis points
After the rate cut,
New, old, mortgage interest rates will fall!
Suzhou ushered in a record low,
Apply for a new mortgage
Or will enter the era of the prefix "2"!
01
Early this morning, the central bank announced that the loan prime rate (LPR) on July 22, 2024 will be: 3.35% for 1-year LPR and 3.85% for LPR over 5 years. The above LPR is valid until the next LPR is issued.
This is the second rate cut this year.
At present, most banks in Suzhou have paid off the first and second sets of housing loans with an interest rate of 3.1%; Minimum 3.05%; After this cut, the mortgage interest rate may enter the "2" prefix!
For buyers, being able to save a little is a little.
You can take out the calculator and calculate how much more money you can save each month?
With the reduction of the LPR, existing mortgage users can enjoy the reduced interest rate on January 1, 2025, or the holiday when the mortgage interest rate is rescheduled.
Moreover, there have been precedents of uniform reduction of the interest rate of the stock housing before, so it is entirely possible to expect another adjustment of the interest rate of the stock housing in the future.
02
This morning, the central bank announced: from now on, the interest rate of 7-day reverse repo operation in the open market will be adjusted from 1.80% to 1.70%
The central bank announced that in order to optimize the open market operation mechanism, from now on, the 7-day reverse repurchase operation in the open market will be adjusted to a fixed interest rate and quantity bidding. At the same time, in order to further strengthen counter-cyclical adjustment and increase financial support for the real economy, from now on, the interest rate of 7-day reverse repo operation in the open market will be adjusted from the previous 1.80% to 1.70%.
For the first time, the LPR was separated from the MLF and lowered separately.
There have been many aspects of information revealed before.
The central bank spoke: strengthen counter-cyclical conditions to help accelerate the new model of real estate development
On July 13, the deputy governor of the central bank was interviewed by CCTV and explained the future trend of interest rates:
In addition to the recent down payment reduction and the abolition of the lower limit of mortgage interest rates, in the next step, Bank of China will continue to improve the macro-prudential management of real estate finance, strengthen counter-cyclical conditions, and help accelerate the new model of real estate development!
On July 12, Pan Gongsheng, Governor of the People's Bank of China, recently revealed at the Lujiazui Forum that the next step will be to continue to reform and improve the loan market prime rate (LPR), and focus on improving the quality of LPR quotations to more truly reflect the interest rate level of the loan market in response to the problem that some quotation rates deviate from the actual best customer interest rate.
In addition, the current real interest rate in the market is on the high side, and further cuts are needed to promote economic growth, the need for a reduction has increased, and the cost of debt for banks has fallen in the past few months, so there is a certain rationality for the current LPR quotation to be lowered.