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When will the repricing cycle change after the adjustment of the existing house loan interest rate? ICBC and CMB are already preparing relevant work, while many banks have no plans yet.
Industrial and Commercial Bank of China, CM Bank stated that they are actively preparing for the relevant work of redefining the 'repricing day' for housing loans. Prior to this, the central bank announced that starting from November 1, 2024, for floating-rate contracts, borrowers of commercial individual housing loans can negotiate with banks and financial institutions in the industry to agree on a repricing cycle. Today's adjustment of existing housing loan interest rates only involves additions or deductions, and does not involve changes in repricing cycles.
October's MLF maturity scale is the largest since the beginning of the year. The central banks will continue to reduce the balance sheet by 700 billion yuan. Industry insiders expect that starting from October, the addition of bank loans will resume year-
1. In October, the MLF operation interest rate remained unchanged, with an operation scale of 700 billion. The amount of MLF due that month was 789 billion, the largest due amount since the beginning of the year. This means that a slight reduction in operations was implemented this month. 2. Industry insiders point out that the reduction in operation scale this month is not significant, determining that new bank loans will resume year-on-year growth from October.
Adjustment starting today! Major commercial banks are collectively adjusting the existing housing loan interest rates. Some small and medium-sized banks will complete the adjustment by the end of the month. A 1.25 million 25-year mortgage in Peking can sa
①Major commercial banks such as Industrial and Commercial, Agricultural, Bank of China, Construction, Communication, and Postal Savings Bank of China have collectively adjusted the interest rates of existing home loans that meet the criteria today, with some small and medium-sized banks expected to complete the process by the end of the month at the latest. ②With the combination of recent real estate support policies, there are certain signs of stabilizing and stopping the decline in the real estate market, and the phenomenon of early repayment has been alleviated.
Finance Association Autos Morning Post [October 25th]
①In September, the top three countries in total export volume of Chinese automobiles are Russia, Belgium, and Mexico; ②Xiaopeng P7+ all series are equipped with AI smart driving, achieving L4 level under "self-driving cars in some scenarios by 2026; ③BMW and Mercedes-Benz jointly launch the "Yi An Qi" ultra-charging brand.
Existing home loan interest rates are collectively adjusted today, with clients in shanghai seeing a reduction of 65 basis points in rates for those owning two properties.
Starting today, most existing home loans will undergo batch adjustments. State-owned major banks and other banks have already completed the adjustment of mortgage rates, while the adjustment process for some small to medium-sized banks may be slightly delayed.
Adjusted as scheduled! The adjustment of existing home loans for six major banks and many joint-stock banks has been implemented in batches, with some major banks already adjusted after 23:00 on the 24th.
① Up to now, six large state-owned banks and many joint-stock banks have initiated bulk adjustments of existing home loan interest rates. ② To ensure a unified adjustment on the 25th, some large banks have already started adjusting backend systems after 23:00 on October 24th. ③ Some users have posted screenshots, showing that after the adjustment of existing home loan interest rates on October 25th, the interest rate dropped from 4.8% to 3.9%, reducing interest expenses by over 0.02 million yuan.