More than three months ago, the new buyer, Xiao Huang, bought his first home in Jiangmen, Guangdong Province. She submitted income certificate, half year running bill, credit report and other information to the bank, and applied for housing loan in the form of provident fund + commercial loan.
In July, Xiaohuang has not yet passed the mortgage application, and some of the information submitted has expired and needs to be handled again.
Huang’s experience of buying a house is not an example. Recently, Guangzhou, Shanghai, Hangzhou, Hefei, Shenzhen and other places are reported tightening mortgage news“ Topics such as higher mortgage interest rates in many cities, suspension of new and second-hand housing loans by banks in many places, and response of many banks to rumors of suspension of housing loans were hot searched on microblog, with a total reading of over 100 million.
According to the data of Shell Research Institute, in June, the first mortgage interest rate of 72 key cities was 5.52%, and the second mortgage interest rate was 5.77%, which is not far from the peak in November 2019, and the average lending cycle has been extended to 50 days.
As soon as there is a flurry of policy, the theory of “housing price collapse” is rampant. Many home buyers worry that it will be more difficult to buy a house after the tightening of housing loans, which will lead to drastic fluctuations in house prices.
Source: visual China
In fact, for recent policy changes, home buyers need not panic too much.
This round of tightening of housing loans is not caused by the shortage of market funds or the sharp increase in loan demand, but by the active adjustment of regulatory agencies. On January 1 this year, the real estate loan concentration management system was formally implemented, requiring that the proportion of real estate loan balance of banking financial institutions and the proportion of individual housing loan balance should not be higher than the corresponding upper limit, and banks exceeding the limit should reduce the pressure.
The purpose of drawing “two red lines” for real estate related loans is to prevent real estate from occupying too much social credit resources and guide funds to flow to the real economy. At present, it is to turn off the tap rather than turn off the tap, and guide the flow to each container in order to achieve balanced development. Tightening housing loans is not to suppress house prices, but more importantly to let house prices return to a rational level.
In addition, controlling the housing loan ceiling is conducive to cooling down the market and “lightening the burden” for families when the housing market is in high fever. For a long time, the high proportion of housing loans has become the living burden of residents. The housing loan pressure of residents in Beijing, Shanghai, Guangzhou and Shenzhen ranks the top in the world, and the proportion of residents’ mortgage loans in their income exceeds 240%, which is 3-4 times that of New York, London and Tokyo.