Lead: Starting from January 1st, 2008, that is, starting from today, major banks will implement new interest rate standards. For those with home loans, they will face the question of whether to repay their loans in advance and how to repay them. For this reason, a reporter conducted an investigation.
Voice-over: Mr. Li works for a large state-owned enterprise in the urban area. He just took out a loan last year to buy a commercial property. According to the initial repayment agreement, the loan repayment pressure on Mr. Li's family was relatively light. However, the multiple interest rate hikes by banks this year have made him worried.
Concurrent sound: Citizen Mr. Li
For homebuyers who take out large loans, it is also quite a burden because the bank has raised interest rates several times consecutively. At that time, I also took out a relatively large loan, amounting to 300,000 yuan. If repaying according to the new mortgage interest rate standard about to be implemented, Mr. Li has already clearly felt overwhelmed!
Concurrent sound: Citizen Mr. Li
After the housing loan interest rate hike, I considered repaying part of it if possible. After this interest rate increase, there might be more in the future. I thought it over and decided to repay part of it first.
In fact, many citizens are worried like Mr. Li. In recent days, reporters saw many citizens queuing up at various bank branches in the urban area to prepay their mortgages.
Concurrent sound: Citizen
After the interest rate hike in 2007, we ordinary people feel some pressure when buying houses. Therefore, I came early to handle the housing provident fund loan repayment business, hoping to alleviate my house-buying pressure.
It is understood that this latest adjustment of the bank loan interest rate is the sixth consecutive interest rate hike by the central bank this year, and the cumulative effect of the interest rate hikes will be reflected all at once starting from January 1st, 2008.
Concurrent sound: Business advisor of Yancheng Yingbin Branch of China Construction Bank, Ms. Wang Xiaoling
Since 2006, the central bank has raised the loan interest rate six times. Although this sixth interest rate hike did not raise the interest rate for loans over five years, from the beginning of the year to now, the loan interest rate has increased from the original 6.84% to 7.83%.
Compared with the six consecutive interest rate hikes by major commercial banks, the increase in provident fund loan interest rates is relatively smaller.
Concurrent sound: Director of the Fund Utilization Management Department of the Municipal Housing Provident Fund Management Center, Mr. Pan Yue
Taking a 20-year provident fund loan as an example, the interest rate has been raised from 4.59% at the beginning of the year to 5.22%.
Whether it's buying a house with a provident fund loan or a commercial loan, both will face the issue of rising interest rates, which tugs at the nerves of millions of people.
Concurrent sound: Citizens 1 & 2
1. Houses are necessities for us common people. Even though the loan interest rate has risen, we still need to buy houses.
2. If within our ability to bear, we can consider buying a house; if not, let's wait and see.
This series of six consecutive interest rate hikes has had obvious effects on the general public. What impact will it have on the currently booming real estate market? Miss Le, the sales manager of a residential complex in the city, gave us an account.
Concurrent sound: Sales Manager of a Residential Complex, Ms. Le Hongmei
The total price of a house is 400,000 yuan. Relatively speaking, the down payment should reach 120,000 yuan, and the loan (for five years) is 280,000 yuan. The monthly loan repayment would reach over 5,000 yuan per month, which is unaffordable for most homeowners. Therefore, relatively speaking, the longer-term loans (over five years) are more suitable.
It is understood that this adjustment of the central bank's loan interest rate mainly targets the 1-5 year period, without raising the interest rate for loans over five years. Although the monthly payments have increased, it does not mean that every citizen needs to rush to repay their loans. Each family's financial situation should be analyzed specifically, and reasonable financial planning should be carried out.
Concurrent sound: Business advisor of Yancheng Yingbin Branch of China Construction Bank, Ms. Wang Xiaoling
Firstly, for salaried families without ample funds, it is not necessary to repay loans in advance. One should follow the original financial planning, including children's education funds and pension plans, and implement them step by step without necessarily rushing to repay the loan. For families with relatively comfortable finances and ample funds, if there is no better investment opportunity, they can consider repaying the loan in advance.
Tonight's commentary: Financial Planning - Act Within Your Means
This series of six consecutive interest rate hikes by the bank, raising loan interest rates, is also a macro-control measure used by the country to guide rational investment among the public. The rise in interest rates will undoubtedly lead some people to repay their loans in advance, but repaying loans in advance is not the only way to reduce interest rate risks. For those with strong bearing capacity and certain investment experience, they can obtain higher returns through related financial products, thereby reducing the burden of mortgage loans. For ordinary mortgage holders, when the financial return is lower than the loan interest rate, it is still recommended to repay the loan in advance. In short, act within your means.
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