The level of mortgage interest rate is directly related to the national economy and people's livelihood. For many people who are in urgent need of buying a house, they will consider the factor of mortgage interest rate. So which bank's mortgage interest rate is relatively low? How to calculate the mortgage interest rate?
The interest rate of housing loan refers to the loan with real estate in the bank, which should pay the interest according to the interest rate set by the bank. China's housing loan interest rate is set by the people's Bank of China, and each commercial bank can float within a certain range.
China's mortgage interest rate is not always constant, but constantly changing. The form is that the interest rate has been rising, so we often compare the situation before and after the increase of interest rate.
At present, the housing loan interest rate on the market is still closely related to the benchmark loan interest rate of the central bank. It is often said that the housing loan interest rate rises by 5%, 10% or 20% or 10% discount is adjusted on the benchmark loan interest rate of the central bank. What is the benchmark lending rate of the central bank in 2019?
The latest adjustment of the central bank's benchmark interest rate was on October 24, 2015.
The interest rate of short-term loans within one year (inclusive) is 4.35%; the interest rate of medium-term loans from one year to five years (inclusive) is 4.75%; and the interest rate of long-term loans over five years is 4.9%.
Generally speaking, housing loans are long-term loans for more than five years. Therefore, it is often said that the rise of *% is based on 4.9%.
A 5% increase in the mortgage interest rate means that when applying for a mortgage in the bank, the mortgage interest rate is 4.9% & times; (1 + 5%) = 5.145%;
A 10% increase in the mortgage interest rate means that when applying for a mortgage in the bank, the mortgage interest rate is 4.9% & times; (1 + 10%) = 5.39%;
The interest rate of mortgage is 20% discount, which means to apply for mortgage in the bank. The interest rate of mortgage is 4.9% & times; 80% = 3.92%
Interest = principal * mortgage interest rate * loan life
Therefore, we can find that under the same conditions, it is more cost-effective for the bank loans with discount of mortgage interest rate. The lower the discount, the less the interest.
So which bank has the lowest mortgage interest rate?
There is no unified answer to the relationship between mortgage interest rate and regional and real estate development.
After determining the purchase area and real estate, choose the bank loan with lower mortgage interest rate in the cooperative bank.