2023-07-23 00:45:00
Have banks in Changzhou agreed to lower the interest rate on stock mortgages?In the future, new loans may be used to replace existing loans
On July 21, a piece of news that “fired the first shot of stock mortgages” swiped the screen. According to the report, banks in Changzhou, Jiangsu have agreed to lower the interest rate on stock mortgages. Borrowers can even convert the stock of pure commercial loans into a combination of “commercial loans + provident fund loans”, and commercial loans will implement the current new interest rate.
Although many banks in Changzhou refuted the rumors that day, they provided a good idea.
Good News Half Day Tour
The source of Changzhou’s screen swiping is an article published by the WeChat official account of “Changzhou Daily”. According to the article, at present, Changzhou City Commercial Bank has not issued a unified guidance document and specific rules, but some borrowers have communicated with lending banks on the stock mortgage interest rate, and some banks have agreed to lower the stock mortgage interest rate.
After the article was reposted by the Financial Associated Press, The Paper and other media, many media and self-media reposted it one after another.
But just over an hour later, the WeChat official account of “Changzhou Daily” revised the article, deleting the expression “the bank agrees to lower the interest rate of stock mortgages” in the original text.
In the afternoon of the same day, many banks in Changzhou refuted the rumors, saying that they had not received relevant policies or notices that the interest rates of existing mortgages could be lowered.
According to media reports, on July 21, the reporter learned from the customer service and credit department of a branch of Changzhou Jiangnan Rural Commercial Bank that a new contract can be signed to convert the existing pure commercial loan into a combination loan of “commercial loan + provident fund loan”. The commercial loan implements the current new interest rate policy.
This is not news either.
The replacement of commercial loans with portfolio loans is an existing policy in Changzhou. The Changzhou Housing Provident Fund Management Center issued the “Changzhou Commercial Personal Housing Loan Transfer Personal Housing Provident Fund Loan Management Measures (Trial)” on January 1 this year, including “repaying the loan with the loan” and “repaying the loan first”. At present, the document can still be found on the official website of the Changzhou Municipal People’s Government.
No activity yet in Hangzhou
Good news Half-day tour, the loss of mortgage family can be imagined, especially the home buyers in Hangzhou.
The reporter came to consult with many commercial banks in Hangzhou, and they all reported that they had not received any documents or notices on lowering the interest rate of stock mortgages. Since the central bank let go, the main job of many lobby managers and customer service personnel is to receive similar inquiries every day, and they can only explain them over and over again.
The person in charge of the personal loan department of a state-owned bank said that mortgages are high-quality assets of banks, and banks that are suffering from an “asset shortage” really have no motivation to actively lower the interest rates of existing mortgages. However, now that the central bank has stated its position, the banks will eventually “give in” and sacrifice immediate interests for long-term benefits.
The person in charge of the personal loan business of another joint-stock bank said that in the first quarter of this year, the balance of existing mortgage loans began to decrease, which was also the first decrease. This means that the mortgage pie is getting smaller, and the competition in the stock market will intensify. Therefore, some banks will jump out first and reduce the level of LPR bonus points to compete for customers. The plan includes not only attracting new customers to apply for mortgages at low interest rates, but also attracting other bank customers to apply for “refinancing” at low interest rates to replace old loans, and even allowing business loans to replace housing loans.
The person in charge predicted that small and medium-sized banks are more likely to take the lead in responding to the central bank’s statement, but once state-owned banks join the battle, the impact on the market will be greater.
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