As the benchmark anchor of mortgage interest rate, the decline of LPR in the past five years means the reduction of residential housing mortgage loan cost.
65438+20221October, 103, the interest rate of the mainstream first home loan in the city was 5.56%, and the interest rate of the second home loan was 5.84%, both down by 8 basis points from last month; The average lending period this month is 50 days, 7 days shorter than last month.
Lpr is the quoted interest rate in the loan market. There are two terms: 1 year and more than 5 years. The main difference between the two is that the time is different and the pricing interest rate is different, but the nature is the same.
The Lpr interest rate for five years or longer is usually higher than the one-year interest rate. The loan interest rates within 1 year and 1 year to 5 years can be set by the lending bank's own choice of reference term varieties. One-year lpr will be applicable to general loans within five years; For loans of more than five years, lpr of more than five years is applicable.
Because the term of mortgage is often twenty or thirty years, the mortgage interest rate is basically five-year lpr. Of course, lpr is only a pricing benchmark, and the mortgage interest rate is formed by adding points on the basis of lpr, so the mortgage interest rate depends on adding points. For example, if the mortgage interest rate in a certain place is lpr plus 60 basis points, then the customer takes out a mortgage, and the lpr is 4.75% in the month of signing the contract, and the mortgage interest rate is 4.75%+0.6% (one basis point is equal to 0.0 1.