Recently, Rong360 released the latest mortgage data showing that among the 35 sample cities, 25 cities have experienced loan suspension, accounting for over 70%. The banks suspending loans are mainly small and medium-sized commercial banks, such as Ping An Bank, Minsheng Bank, Guangfa Bank, CITIC Bank, etc. In the ranking of cities by loan suspension proportion, Changsha, Wuxi, and Fuzhou rank top three.

 

　　Rong360 pointed out that since March, most banks have canceled mortgage rate discounts due to risk considerations and have tightened approval for real estate-related loans. Mortgage rates continue to rise, and the nationwide mortgage shortage is evolving into a temporary "blood loss" for the real estate market. The 15% discount rate (8.5 discount) has completely disappeared nationwide. Banks are severely delaying and reducing loans, and there has been a phenomenon of banks picking borrowers. At the same time, loan suspension is spreading further. In addition to some commercial banks suspending loans, state-owned banks are also in a semi-suspended state, and provident fund loan quotas are also tightening.

 

　　In this regard, industry experts believe that the situation of tight liquidity has not been completely reversed so far. Under the overall tight funds, the tight loan situation in the real estate industry is still difficult to change in the short term, and the impact of funds on the property market is intensifying.

 

　　Data shows that since March, mortgages have been tighter than in February, with the 15% discount rate completely gone nationwide; only Beijing still offers a 12% discount rate; other cities have basically raised rates to the benchmark or higher. Over 70% of cities have experienced loan suspension. Among them, Changsha has 15 mortgage banks, 4 suspended, accounting for 26.7%. Wuxi has 12 mortgage banks, 3 suspended, accounting for 25%. Fuzhou, Wuhan, Beijing and other places have suspension rates of 20%, 18.1%, and 17.9% respectively.

 

　　In addition to loan suspension, among banks that can lend, not only are delays and reductions serious, but many new lending phenomena have also appeared. According to a personal loan manager, the lending time is now difficult to determine, generally at least about 5 months.

 

　　Loan interest rates go to the highest bidder. The reporter found that some banks have stipulated "higher interest rates get priority processing." Rong360 pointed out that some banks require customers to raise mortgage rates to expedite approval, otherwise the system will automatically put lower rates at the back, and the approval time cannot be guaranteed, making borrowers "bitterly" wait. Many borrowers are even forced to sign various supplementary agreements or agree to change the specified rate to get the loan.

 

　　In addition, banks are picking borrowers. For example, banks will prioritize loans for second homes because the mortgage rate for second homes is higher; prioritize customers with larger total loans; prioritize customers with higher salaries. For users with bad credit, banks are even stricter, reducing the loan amount, raising the loan rate, or requiring a third-party guarantor or institution, and directly refusing loans in severe cases.

 

　　At the same time, credit loans are replacing mortgages. Currently, many banks have quietly suspended mortgage business and use credit loans to "replace" them. Credit loans have higher interest rates than mortgages. Because banks are stricter in approving housing mortgages, in order to obtain higher returns, they often "encourage" customers to apply for credit loans to indirectly solve mortgage funding problems. It is understood that commercial banks' credit loan rates range from 8-18%, and many foreign banks even reach 22-24%.

 

　　"Even if you want a loan, you must buy wealth management products." A homebuyer said that when applying for a housing loan, due to the high loan amount, the bank required them to purchase wealth management products first before approving the loan.

 

　　It is worth noting that the continuous tightening of mortgage policies, the increase in first-home loan rates, and the suspension of provident fund loans have indirectly weakened homebuyers' ability to pay.

 

　　Kou Hailong, an analyst at Century 21 Real Estate, said that affected by rising housing prices and tightening mortgages, provident fund loan quotas can no longer meet loan needs. The proportion of commercial loans is increasing month by month, the approval cycle is lengthening, the entire transaction cycle is increasing, and some improvement-type housing demand cannot be released.

 

　　Regarding the reasons for tightening loans, Yang Kewei, a researcher at CRIC Research Center, believes that the prudent monetary policy and the exit of QE3 have led to continuous tightening of liquidity. At the same time, emerging internet finance and strengthened shadow banking supervision have led to the loss of deposits within the banking system, and the reduction in available loan funds is the main reason for the tightening.