01, the interest difference is 300,000
Since this year, the mortgage interest rate has dropped again and again. First, the LPR has been reduced by 0.35 percentage points, and then the original plus point for the first house has been changed to the current minus 20 points.
Facing the interest rate of the first home in many cities has dropped to 3.9%, friends who bought a house at an interest rate of 6.37% in the past two years suffered from anxiety.
After all, the difference in interest rates is too great, and the interest cost to be borne in the future is too far apart.
Calculated with a principal of 1 million, assuming a loan of 20 years, if calculated according to the current 3.9%, the accumulative repayment of interest in the future will be 440,000, but if calculated at 6.37% in previous years, then the accumulative repayment of interest will be 770,000, the interest gap almost doubled.
Therefore, many friends are anxious, will the bank take the initiative to lower the interest rate?
02, automatic reduction
First of all, the interest rate of the house bought in the past few years will definitely drop.
Because the current mortgage interest rate has been uniformly switched to the method of adding LPR points, the cumulative LPR has dropped by 35 basis points this year, which means that the mortgage interest rate of those who bought houses in the past will also be uniformly lowered by 35 basis points next year, that is, Say a 0.35% reduction.
If the bank continues to cut interest rates next year and the LPR continues to cut, then by January 1 of the next year, the corresponding percentage points will also be reduced.
There are two exceptions here, the first exception is that some people have already chosen a fixed rate, then there will be no change.
The second exception is that some people’s mortgage interest rate switch anniversary date is not January 1st every year, so the latest mortgage interest rate will be adjusted on the corresponding anniversary date.
03, much lower than expected
Secondly, the decline in mortgage interest rates is much smaller than expected.
People who bought a house at 6.37% in the past, of course feel very anxious when they see the current mortgage interest rate of 3.9%, and the gap is nearly three percentage points.
But even if the interest rate of my own mortgage is adjusted now, it is only adjusted by 0.35%, which is a big gap and far less than expected.
But we need to know that the current 3.9% interest rate refers to the current interest rate for buying the first house. Of course, people who bought a house before can not enjoy this preferential interest rate now.
Even if you sell the house and buy it again, it is difficult to enjoy this interest rate, because as long as you have bought a house, most places are considered non-first homes.
04, why didn’t the bank take the initiative to lower
, so some people came up with a way to settle all the remaining loans now, and then change to another bank to refinance. Although it is difficult to obtain such a low interest rate of 3.9%, there is a high probability that you can apply for 4.5 % up and down the loan interest rate.
If everyone operates like this, it will mean a large loss of high-quality loans for the original lending banks. In this case, why don't the banks simply take the initiative to cut interest rates for home buyers?
In principle, it is indeed possible to operate in this way, but it requires more conditions to be able to apply successfully, which is not something most buyers can do.
As for the bank, since only a very small number of people can do it, then there is not much loss.
On the contrary, if the interest rates of all mortgage contracts with higher interest rates were lowered uniformly, it would be a major loss for the bank.
After all, for banks, this is the most cost-effective and safest loan, because most people’s loan cycle is 20 to 30 years, which means that in the next 20 to 30 years, banks can obtain higher loan interest income.
The current deposit interest rate has dropped again and again, and the loan for house purchases in the early years corresponds to a very high gap between deposits and loans. even in the futureAs the interest rate rises, the interest cost of deposits increases, but the interest rates of these old loans will also rise accordingly, so the deposit-loan gap can still be maintained at a relatively high level.
Therefore, for banks, these home purchase loans in the past few years are better assets than the current home purchase loans.
It is even more impossible to expect banks to take the initiative to cut interest rates under such circumstances.