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Mortgage rates go up outside the house to raise money

Time: 2018-02-08         Source: Guangzhou Daily         Author: Guangzhou Daily

Guangzhou Daily News (all media reporter Zhang Zhongan) just after 2018, the bank began to float the mortgage interest rates. On the first of February, the four state-owned banks in Guangzhou started to raise their mortgage rates by 10%, while those for second-suites went up 15%. Financial 360 Web site monitoring shows that many first-home mortgage interest rates go up 5% to 20%, and some banks have no quotas.

Guo Shuqing, chairman of the China Banking Regulatory Commission, said earlier that it would curb the residential sector leverage and continue to curb the real estate bubble. Data show that the current real estate sales and individual purchase loans balance growth have dropped from a high point. Among them, the personal mortgage loan has been 14 consecutive months of growth rate of decline, from October 2016 surge of 51.40%, all the way down to December last year, the negative 2%. Some analysts believe that in the short term, with the increase in interest rates, personal mortgage growth is expected to decline further. Some economists expect that with reference to past experiences, it is estimated that new personal home loans in 2018 will be about 3.3 trillion yuan, a decrease of 800 billion to 1,000 billion yuan over 2017.

In the context of the increasingly difficult local financing, many developers look again at the outside world. Making Chinese-funded developers this year, the dollar debt particularly prosperous.

February 6, Greenland Holdings announcement disclosed the issue of two US dollar bonds, a total of 700 million US dollars. As of now, the total scale of overseas bonds issued by Greenland Holdings overseas projects is 4.3 billion U.S. dollars, with an average coupon of only 4.58%. Statistics show that in 2014, Greenland Holdings successfully established a medium-term bill plan of 3 billion U.S. dollars through an overseas wholly-owned subsidiary in Hong Kong Stock Exchange. According to the market conditions, Greenland Holding Company raised and withdrawn funds in phases to raise funds for greenfield overseas investment projects.

In addition, R & F Properties, Longfor Properties, Country Garden and many other mainland-listed enterprises listed on the Hong Kong Stock Exchange have all conducted dollar financing overseas. January 17, Country Garden announced foreign financing 23.48 billion Hong Kong dollars.

In fact, from 2016 onwards, developers have to restart the overseas financing plan. In the first 11 months of 2017, the scale of overseas financing of real estate enterprises reached 255.3 billion yuan, accounting for 25% of the total financing amount, up 11 percentage points from the previous year and re-becoming an important means of financing housing prices. Some analysts believe that this is mainly due to the further tightening of credit environment in our country, corporate debt threshold increased, housing prices have been sailing one after another to find financing opportunities overseas, and the pressure is more obvious SMEs.

Second-tier cities

The average interest rate is higher than the first-tier cities

According to the data from 360 monitoring data, the mortgage interest rates of the first-tier cities in Guangzhou and Shenzhen in January 2018 are in the range of 5.04% -5.44%. The average interest rate of first-home loans in Beijing is 5.33%, that of Guangzhou is 5.34% and that of Shenzhen is 5.44% in Shanghai and 5.04% in Shanghai. Shanghai rose 0.06 percentage points from the previous month, Beijing rose 0.04 percentage points, Guangzhou rose 0.02 percentage points, Shenzhen flat last month.

It is noteworthy that the average first-tier cities in the first tier average interest rate lower than second-tier cities.

Financial Analysis of 360 According to the statistics, the average interest rate of four first-tier cities in 2017 is lower than the average of 31 second-tier cities in 2017, which shows that the overall interest rates of first-tier cities are more favorable than second-tier cities.

The reporter also noticed that in the data released by Rong 360, among the top ten cities with the lowest average interest rate of the first suites nationwide in January, the cities in the north and the south entered the list.

360 analysts Li Weiyi forecast, excluding strong policy intervention, the second-tier cities this year, the interest rate will still be higher than the first-tier cities interest rates, but the first and second tier cities will be the first increase in interest rates and then narrow the gap until the same time, then Mortgage rates will reach a high value and remain stable.

Li Weiyi believes that the further increase of capital cost in 2018 will lead to an increase in mortgage interest rates. The market supply will further increase and the solution to the housing problem will be diversified. As a result, the incremental mortgage demand will show a decreasing trend and the rental loan will show an upward trend.

(Guangzhou Daily)

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