National mortgage interest rates have declined for nine months in a row. Some cities have raised the down payment ratio of second homes.

SMM Network: September 18, Rong 360 Research Institute released the latest report, its monitoring data of mortgage interest rates of 674 branches of banks in 41 key cities across the country show that in September 2020 (the data monitoring period is from August 20, 2020 to September 18, 2020), the average interest rate of the first home loan is 5.24%, the average interest rate of the second home loan is 5.55%, a month-on-month decline of 1BP.

It is worth noting that this is the country's first suite, the second home loan average interest rate has been cut for nine months in a row. Since December last year, the figures have changed from rising to falling.

"although the overall mortgage interest rate is still slightly lower in September, the downward trend of mortgage interest rates in more and more cities has reached an inflection point, and the inflection point of interest rates for second homes is more significant than that for first apartments." Li Wanfu, a researcher at big data Research Institute, said.

Data monitored by Rong 360 show that the average first home loan interest rate in 18 cities still declined month-on-month in September, with Changchun falling the most, with the first home loan rate falling by 17BP and the second home interest rate by as much as 23BP. Suzhou's first home loan interest rate continued to fall by 12BP, and its first home loan interest rate has fallen by 82BP this year. In addition, the Chengdu area has risen for two months in a row, with the first home loan interest rate rising 5BP month-on-month this month, making it the third highest home loan interest rate in the country.

As for second homes, monitoring data show that the average level of loan interest rates in 15 cities fell month-on-month, less than that of the first home, while interest rates in 11 cities rose month-on-month, more than the number of first-home increases.

Not only the interest rate, but also the down payment ratio of the second home has changed more than that of the first home. The down payment of the second home in Shenyang and Wuxi has been raised collectively, and in some cities, banks have implemented the mainstream lower down payment level before. This month, most of them have also been adjusted to the mainstream level.

"on September 15, the central bank's parity excess continued to MLF 600 billion yuan, with a net investment of 230 billion yuan into the market, and the LPR quotation on the 21st is also likely to remain at the previous value. Under this premise, China's mortgage market may tighten slightly under the current relatively stable trend, and the performance is more significant in the second home loan. " That's what Li Wanfu said.

In fact, since the second half of this year, the regulatory authorities have held several symposiums on real estate work, emphasizing the need to unswervingly adhere to the positioning of "houses are for living, not for speculation," so as to ensure that the goals of stabilizing land prices, housing prices and expectations are achieved.

According to the statistics of the Shell Research Institute, a total of 44 provinces and cities across the country have launched real estate-related policies 61 times since July, among which, 10 cities in Changzhou, Shenyang, Hangzhou, Dongguan, Wuxi, Shenzhen, Nanjing, Ningbo, Dalian and Chengdu have issued policies to regulate the development of the real estate market, raise the threshold for loans and real estate resale, prevent the market from overheating, and further crack down on investment demand.

In August, the heat of the market remained unabated, and house prices rose steadily. Chen Xiao, an analyst at Zhuge Housing data Research Center, said that in August, the number of cities with rising new housing prices was the same as the previous month, while the number of cities with rising second-hand housing prices increased compared with the previous month, and the price increases of new and second-hand houses both expanded slightly.

According to the index of new commercial housing prices in 70 cities released by the National Bureau of Statistics in August, the number of newly built commercial housing rose in 59 cities, the same as the previous month, while nine cities fell, an increase of 3 over the previous month. The number of cities where second-hand housing prices rose was 47, an increase of 2 over the previous month, while 18 cities fell, down 2 from the previous month.

"it is expected that during the Golden Nine and Silver decade, under the pressure of the three red lines and performance indicators, many housing companies may quickly withdraw funds in the form of price for volume." Chen Xiao said.

Pan Hao, a senior analyst at the Shell Research Institute, believes that tightening regulation in many provinces and cities will also serve as a warning to other cities across the country, or will slow down the recovery of trading volume and the rate of price rise to a certain extent, but under the influence of the overall economic pressure and urban policies, it is unlikely that the regulation and control policy will be comprehensively tightened. At the same time, as the end of the year approaches, the willingness of real estate enterprises to ship goods is still strong, and it is expected that the decline in transaction volume will continue to narrow. The transaction price remained stable.

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