《大行報告》高盛:人行減LPR利率 意味對內房業進一步放鬆 但指需更多政策支持
就人民銀行公布將5月五年期LPR由上次的4.6%下調至4.45%,下調15個基點,而一年期LPR維持在3.7%不變,高盛發表報告表示,由於抵押貸款利率以五年期LPR為參考,此次下調意味著房地產政策進一步放鬆,全國首套房抵押貸款利率下限,將從之前的4.4%進一步下調至4.25%,加上人行早前宣布下調首套房貸款利率下限20個基點,首套房抵押貸款利率可能會降低多達1個百分點。
該行表示,人行將五年期LPR利率下調,可能有助於改善內地房地產市場情緒,但基於房地產和整體活動指標一直疲弱,認為當局需要更多的政策寬鬆來支持增長。
在內房指標非常疲軟的情況下,高盛表示內地政策制定者明顯加快了與房地產相關的寬鬆政策,指今天的降息可能會支持新的抵押貸款,但由於行業交易疲軟和抵押貸款下降,可能需要更多的寬鬆政策來支持房地產行業。如上所述,有效抵押貸款利率有下降的空間,指當局也一直在研究房地產開發商的融資問題,冀恢復投資者對房地產開發商的信心。
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