Local authority cut home loan interest rate by 0.2 percentage points

第九个月亮

Burden of  indebted home buyers  
    is  reduced  after  Shenyang Mu
    nicipal  Public  Housing  Fund Centre  said  it  cut mortgage  interest  rate of  the  fund  by  0.2  percentage  points: five-year  or  longer  home  loan  interest rate  fell  to 4.50 percent  from 4.70 percent, while  less  than  five  years  home loan  interest  rate decreased  to 4 percent from  4.20  percent.  For  example,  if  a home buyer borrows  500,000  yuan  for 25  years,  he  can  save  nearly  20,000 yuan.  
    A  source with  the  public  housing fund centre  said  the  interest  rate was cut on  July 6. No mater  the  loan  is  lent  for less  than 5 years or  longer  than 5 years, the home  loan  interest  rate  is cut by 0.2 percentage points.  
    If 500,000  yuan was borrowed  for 25 years, 2,836.23 yuan  should be  repaid monthly with  previously  4.70  percent interest  rate;  repayment  drops  to 2,779.16 yuan after  the  reduction.  
    And  the  total  interest  fell 17,119.19 yuan  to  33,3748.72  yuan  from 350,867.91 yuan.  
    Meanwhile, home buyers  can borrow more with  the  decreasing  home loan after  the public housing  fund centre raised  loan amount  in February.  
    If  an unmarried person  applies  the home  loan, he  can