Bank interest rate hike? Less discounts are true!
The dispute between China-US trade war and fugitives has plagued the property market. The bank suddenly tightened mortgage offers in the last week and it seems that the property market will add more variables. In fact, the bank’s adjustment is not a rate hike, and the impact on the property market is very limited.
The pressure on bank borrowing costs has increased. Many large banks have reduced their rebates to 1.5% in cash, and raised their interest rates to 2.475%, and increased interest rates by 0.1%. After the interest rate hike, the new mortgage will cost 51 yuan per month for the loan amount of 1 million yuan and the 30-year mortgage period. There is not much pressure on home buyers to provide substantial mortgages, and the psychological impact is limited.
Affecting the price of the building
In fact, the part of the bank’s interest rate hike (substantially narrowing the concession) is a reduction in the interest rate limit of the fine loan of less than $3 million, which means that the home buyers of the low-priced property market with a property price below 4 million. Greater impact. According to statistics, in the first half of 2019, 19,311 second-hand private residential sales and purchase contracts were registered, with a total value of 177.76 billion yuan, or an average registered capital of 8.84 million yuan per second. The first-hand market is even more exaggerated. In the first five months of this year, the number of first-hand private home registrations was 11,213, and the total registered value was 110.166 billion yuan, an average of 10.72 million yuan. It can be seen that the transactions in the low-priced buildings below 4 million yuan are extremely rare. The “increasing interest rate" of the banks has no obvious impact on the market.
Secondly, according to the Central Plains mortgage data, the number of newly approved mortgages in May was 12,029, and the loan amount was 52.274 billion yuan, a record high. The average loan amount increased by 200,000 per month to 4.35 million yuan, a record high. According to the statistics of the bank, the average loan amount of the mortgage has exceeded 4 million yuan for 15 consecutive months since it exceeded 4 million yuan in March last year. The figures reflect that the market borrowing amount far exceeds 3 million, which further proves that the bank has adjusted the fine silver code loan discount, which has little impact on the property market.
If the interest rate is reduced, there is still room for bargaining.
As a matter of fact, as early as mid-May, the market has already rumored that the bank will tighten the interest rate limit. At that time, it was said that the upper limit of the locks for H and P was raised, and the current P was reduced by 2.75% to P = 2.625. PCT, that is, the real mortgage interest rate has been raised from the current 2.375% to 2.5%, and the interest rate hike is 0.125%. The relevant rumors came true after one month, and the margin was only 0.1%, and only the fine-loans were affected, reflecting the concern of the bank to raise interest rates.
The sudden interest rate hike was mainly due to the combination of the semi-annual settlement and the dividend payout period. The Hong Kong dollar interest rate continued to rise (the interest rate on the eve of the rate hike rose to 2.55%), while the mortgage interest rate was 2.375%. With a modest profit, only minor adjustments were made. I believe that the market will loosen interest rates and bank mortgage offers still have room for bargaining.