When will the interest rate on existing housing loans decrease? Multiple banks in Zhengzhou responded! Customer service | Bank | Loan interest rate
The adjustment of interest rates for existing housing loans in Zhengzhou is expected to be implemented in practice. Following the central bank's further adjustment of the interest rates on existing housing loans, Zhengzhou's latest "Zheng 15 Measures" to stabilize the real estate market encourage commercial banks in Zhengzhou to adjust the interest rates on individual housing loans for existing housing in an orderly and lawful manner. How do major banks in Zhengzhou respond and when will policies be implemented? The reporter asked several banks in Zhengzhou city, and most of them said they are still waiting for specific policies. Some bank customer service personnel said that it will definitely be reduced, and the specific adjustment time will still be notified. The urgent need to lower interest rates on existing housing loans seems to be imminent, as the specific adjustment time will depend on policies. Recently, the central bank has announced a reduction in the interest rate of existing housing loans, guiding banks to adjust the interest rate of existing personal housing loans in an orderly manner in accordance with the law. On August 3rd, Zhengzhou vigorously introduced 15 new policies for the real estate market, encouraging banks in Zhengzhou to lower interest rates on existing housing loans. How is the market response of major banks in Zhengzhou currently, and when will policies be implemented? The reporter inquired with several banks in Zhengzhou, and they generally stated that they are still waiting for specific policies. The customer service representative of Agricultural Bank of China stated that it will definitely be lowered, and the specific landing time will be notified. The staff of China Construction Bank stated that the specific policies have not been specified yet, but there is only this direction, and the timing of implementation is estimated to vary in each city. If there are corresponding policies, the four major banks will definitely follow up first. At the same time, the reporter inquired with China Merchants Bank, Bank of Communications, CITIC Bank, Industrial Bank, and Zhengzhou Bank respectively, and the responses received were generally consistent: specific policies have not been received yet, and we are still waiting for notification. When will the interest rate on existing housing loans fall? Experts predict that the reporter interviewed Zhang Xinmao, a senior market analyst at Guotai Junan Research Institute. Zhang Xinmao predicts that the implementation time may be in September or October of this year. Zhang Xinmao's analysis suggests that when the policy will be implemented, the first consideration should be given to the interest rate stakeholders of the policy. For banks, lowering the interest rate on existing housing will lower their profits and have a significant impact on them. Firstly, the scale of existing housing loans is relatively large, and as high-quality assets of commercial banks, adjusting interest rates will affect bank interest rate spreads and profit margins. In 2008, the total scale of personal housing loans in China was only 2.98 trillion yuan, while the current scale of housing loans is about 38.8 trillion yuan. At that time, the loan scale was less than one tenth of what it is now. If the interest rate on existing housing loans is lowered, the impact on banks can be said to be incomparable. However, if it is not lowered, banks will face the problem of early repayment by homebuyers and customer loss. "Secondly, the net interest margin of banks is currently facing narrowing, and commercial banks need to first reduce the cost of funds in order to have the motivation to lower the interest rates on existing housing loans. Banks may wait for the timing of the deposit interest rate reduction, as well as the next step of the central bank's interest rate and reserve requirement reduction. The policy may be such a transmission operation," said Zhang Xinmao. In the view of Guo Chunjiang, the producer of self media "Territory", from July to now, the policy direction has changed from
