November Mortgage 70 percent discount rate total cancellation

Bank loans to customers to the lower limit of interest rate adjustment for the same time benchmark interest rate of 85% "Caixin Network" (Comprehensive media reports) at present, a number of banks have issued a circular to the branch, the request in November 1 onwards, the total cancellation of mortgage 70 percent interest rates,　　The minimum interest rate concession for mortgage clients is adjusted to 85% of the benchmark interest rate. According to the China Securities Daily reported November 1, a number of banks confirmed that from November 1 onwards, commercial banks to buy the first set of housing loans to implement the minimum standard into: a minimum down payment of 30%, the interest rate is the same as the benchmark interest rate of 15%; two housing to pay the lowest 50%,　　The interest rate is 1.1 times times the benchmark interest rate, prohibiting the provision of loans to third and above housing. Reported that buyers who have applied for loans but have not yet been approved, each bank to implement different interest rates, and the stock of mortgage loans are not in the list. "If house prices fall, banks are taking a lot of risk, so it is necessary for banks to tighten property loans by raising the threshold for interest rates," the report said, citing industry insiders. According to the report of October 29, a number of banks in Beijing and Shanghai confirmed that the first set of housing loan interest rate of 70 percent has been canceled, the current minimum discount is 85 percent. A staff member in Beijing said to the new financial reporter that the bank even 85 percent interest rate has been canceled.　　At present, the first suite depending on the down payment and personal qualification, discounts range from 86 percent to 90 percent. The minimum discount from 70 percent to 85 percent, in the current 6.14% base rate, a 1 million-dollar 20-year loan, the monthly supply will increase by about 500 yuan, that is, a year will pay more than 6000 yuan. (Caixin reporter Ma Yuan)