Every reporter: Xiao Shiqing, Li Yuwen, Zhang Shoulin Every editor: Liao Dan
On November 10, the personal housing loan statistics for October 2021 released by the central bank showed that at the end of October 2021, the balance of personal housing loans was 37.7 trillion yuan, an increase of 348.1 billion yuan that month, an increase of 101.3 billion yuan from September.
The “Daily Business News” reporter noted that this is the first time that the central bank has separately released monthly data on personal housing loans. According to previous practice, such data is disclosed in the quarterly report on loan investment by financial institutions. Financial statistics released by the Central Bank on November 10 show that in October, household loans increased by 464.7 billion yuan, of which short-term loans increased by 42.6 billion yuan, and medium- and long-term loans increased by 422.1 billion yuan.
Residents’ medium and long-term loans increased year-on-year in October
Earlier, some market analysts told reporters that in October’s new credit data, the residents performed satisfactorily, with short-term loans and medium- and long-term loans increasing year-on-year, reflecting the rebound in household consumption expenditures. At the same time, residents’ medium- and long-term loans increased year-on-year, reversing the year-on-year contraction trend in the first two months, reflecting the rebound in demand in the real estate market.
Recently, it is reported that some regulatory authorities have notified major banks in hot cities to clear up mortgage loans over 5 months, and at the same time loosen control over development loan quotas for real estate developers.
Regarding whether the mortgage application is further liberalized, a person from the mortgage department of Beijing Tongzhou Business Department of a large state-owned bank responded to the reporter: “No.” The person further informed the reporter that the current application and approval of mortgage loans without provident fund for second-hand houses are the same as before.
In addition, the staff of the personal loan department of a large state-owned bank in Beijing told reporters that they have not received relevant notices from their superiors, and the actual loans are the same as before.
However, a personal loan source at a large state-owned bank in Henan told reporters that the amount of housing loans has indeed increased recently. “It can’t be said that (the policy) has been loosened, but the quota has been loosened.” The person added that there is no new policy, and the loosening of one or two months does not explain the problem.
People from a branch of a large state-owned bank in East China told reporters that they have not heard of the news (clearing the backlog of mortgage loans), but the pace of lending has indeed accelerated recently.
“Recently, the personal mortgage loan policy has changed from time to time. This month, our branch’s loan amount has also increased.” The above-mentioned person also mentioned that it is estimated that the backlog of personal loan inventory in their branch can be emptied in December.
The reporter learned that the aforementioned acceleration of bank lending is also related to the bank’s upcoming preparations. “All branches are now preparing for a good start, including target setting and channel expansion, and strive to grasp the market window period for the recent centralized opening, and the branch will also go to the branch to investigate the progress.” The above-mentioned banker told reporters.
The amount of personal housing loans issued in the first three quarters remained stable
At the end of September this year, the People’s Bank of China and the China Banking Regulatory Commission jointly convened a real estate finance work seminar to guide major banks to accurately grasp and implement the real estate financial prudential management system, maintain the stable and orderly distribution of real estate credit, and maintain the steady and healthy development of the real estate market.
On October 5, at a press conference on financial statistics for the third quarter of 2021 held by the Central Bank, Zou Lan, Director of the Financial Markets Department of the Central Bank, said that since the 19th National Congress, the central government insisted that houses are used for housing instead of speculation. The positioning of real estate, insists not to use real estate as a short-term means of stimulating the economy, insists on stabilizing land prices, stabilizing housing prices, and stabilizing expectations, speeding up the establishment of a long-term real estate mechanism, preventing and dissolving the real estate “gray rhino” risk, and realizing the stable and healthy development of the real estate market. It has also effectively promoted China’s economic structural transformation and high-quality development, and reduced the overall financial risk level. The central government’s strategy and guidelines on real estate regulation are our long-term follow-up to the real estate finance work.
Zou Lan said that in the first three quarters, the amount of personal housing loans issued remained stable, basically matching the amount of commercial housing sales during the same period. Among them, housing prices in a few cities have risen too fast, personal housing loans are subject to some constraints, and the rate of housing price rises has been suppressed. After housing prices stabilize, the supply-demand relationship of housing loans in these cities will also return to normal. Recently, individual large-scale real estate companies have been exposed to risks, financial institutions’ risk appetite for the real estate industry has dropped significantly, and consistent shrinking behavior has occurred, and the growth rate of real estate development loans has dropped significantly. This short-term overreaction is a normal market phenomenon.
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