LIBOR, ikakhala nambala yofunika kwambiri m'misika yazachuma, idzasowa m'mbiri pambuyo pa Juni 2023 ndipo sidzagwiritsidwanso ntchito kubwereketsa mitengo.

Kuyambira mu 2022, ngongole zambiri zobwereketsa zobwereketsa zimamangiriridwa ku index - SOFR.

Kodi SOFR imakhudza bwanji mitengo yangongole yoyandama?Chifukwa chiyani SOFR iyenera kugwiritsidwa ntchito m'malo mwa LIBOR?

M'nkhaniyi tifotokoza zomwe SOFR ndi madera omwe amakhudzidwa kwambiri powerengera chiwongola dzanja chosinthika.

 

Ngongole za Mortgage Zosintha (ARM)

Potengera chiwongola dzanja chambiri chomwe chilipo, anthu ambiri akusankha ngongole zosinthika, zomwe zimadziwikanso kuti ma ARM (Adjustable-Rate Mortgages).

Mawu akuti “chiwongola dzanja” amatanthauza kuti chiwongola dzanja chimasintha pakadutsa zaka zobweza ngongole: Chiwongola dzanja chokhazikika chimavomerezedwa kwa zaka zingapo zoyambirira, pomwe chiwongola dzanja chazaka zotsalira chimasinthidwa pafupipafupi (kawirikawiri miyezi isanu ndi umodzi iliyonse. kapena chaka).

Mwachitsanzo, 5/1 ARM imatanthawuza kuti chiwongoladzanja chimakhazikika pazaka 5 zoyamba zobweza ndikusintha chaka chilichonse pambuyo pake.

Panthawi yoyandama, kusintha kwa chiwongoladzanja kumayikidwanso (zipewa), mwachitsanzo 5/1 ARM nthawi zambiri imatsatiridwa ndi nambala ya manambala atatu 2/1/5.

·The 2 imatanthawuza kapu yoyambirira ya kusintha kwachiwongoladzanja (kapu yosinthira koyamba).Ngati chiwongola dzanja chanu choyambirira kwa zaka 5 zoyambirira ndi 6%, chiwongoladzanja m'chaka chachisanu ndi chimodzi sichikhoza kupitirira 6% + 2% = 8%.

·1 imatanthawuza chiwongoladzanja pakusintha kwa chiwongoladzanja chilichonse kupatula choyamba (chidule cha zosintha zina), mwachitsanzo, 1% pakusintha kwa chiwongoladzanja chilichonse kuyambira chaka cha 7.

·5 imatanthawuza malire apamwamba a kusintha kwa chiwongoladzanja pa nthawi yonse ya ngongole (kapu yosinthira moyo wonse), mwachitsanzo, chiwongoladzanja sichingapitirire 6% + 5% = 11% kwa zaka 30.

Chifukwa mawerengedwe a ARM ndi ovuta, obwereka omwe sadziwa ma ARM nthawi zambiri amagwera mu dzenje!Choncho, ndikofunika kwambiri kuti obwereka amvetsetse momwe angawerengere chiwongoladzanja chosinthika.

 

Kodi madera akuluakulu a SOFR omwe amakhudzidwa ndi chiyani powerengera kuchuluka kwa zoyandama?

Pa 5/1 ARM, chiwongoladzanja chokhazikika cha zaka zisanu zoyambirira chimatchedwa chiwongoladzanja choyambira, ndipo chiwongoladzanja choyambira m'chaka cha 6 ndi chiwongoladzanja chokwanira, chomwe chimawerengedwa ndi index + margin, pamene malire ali. yokhazikika ndipo index nthawi zambiri imakhala masiku 30 apakati pa SOFR.

Ndi malire a 3% ndi masiku 30 apakati a SOFR ndi 4.06%, chiwongoladzanja m'chaka cha 6 chikanakhala 7.06%.

Kodi index iyi ya SOFR ndi chiyani kwenikweni?Tiyeni tiyambe ndi momwe ngongole zosinthika zimakhalira.

Ku London m'zaka za m'ma 1960, pamene kukwera kwa inflation kunali kukwera, palibe mabanki omwe anali okonzeka kupanga ngongole za nthawi yaitali pamitengo yokhazikika chifukwa anali pakati pa kukwera kwa inflation ndipo panali chiopsezo chachikulu cha chiwongoladzanja.

Kuti athetse vutoli, mabanki adapanga ngongole zosinthika (ARMs).

Patsiku lililonse lokonzanso, mamembala a bungwe amaphatikiza ndalama zomwe amabwereka ngati chiwongolero cha mtengo wokonzanso, kusintha chiwongola dzanja chomwe chimaperekedwa kuti chigwirizane ndi mtengo wandalama.

Ndipo zomwe zatchulidwa pa mtengo wokonzanso izi ndi LIBOR (London Interbank Offered Rate), zomwe mumamva nthawi zambiri - ndondomeko yomwe yatchulidwa mobwerezabwereza m'mbuyomo powerengera chiwongoladzanja chosinthika.

Mpaka 2008, panthawi yamavuto azachuma, mabanki ena sanafune kutchula mitengo yobwereketsa kuti athe kubisa vuto lawo landalama.

Izi zidavumbulutsa zofooka zazikulu za LIBOR: LIBOR idatsutsidwa kwambiri chifukwa chopanda maziko enieni komanso kusinthidwa mosavuta.Kuyambira pamenepo, kufuna kubwereka pakati pa mabanki kwatsika kwambiri.

Poyankha kuopsa kwa kutha kwa LIBOR, Federal Reserve idapanga Komiti ya Alternative Reference Rates Committee (ARRC) mu 2014 kuti ipeze njira yatsopano yosinthira LIBOR.

Pambuyo pazaka zitatu zantchito, ARRC idasankha mwalamulo Secured Overnight Financing Rate (SOFR) kuti ikhale yolowa m'malo mu June 2017.

Chifukwa SOFR imachokera pa mlingo wa usiku mumsika wa repo wothandizidwa ndi Treasury, pali pafupifupi palibe chiopsezo cha ngongole;ndipo imawerengeredwa pogwiritsa ntchito mtengo wamalonda, zomwe zimapangitsa kuti kusintha kukhala kovuta;kuphatikiza apo, SOFR ndiye mtundu wogulitsidwa kwambiri pamsika wandalama, womwe ungawonetse bwino kuchuluka kwa chiwongola dzanja pamsika wopeza ndalama.

Chifukwa chake, kuyambira mu 2022, SOFR idzagwiritsidwa ntchito ngati mulingo wamitengo yangongole zoyandama.

 

Kodi phindu la ngongole yobwereketsa yosinthika ndi yotani?

Bungwe la Federal Reserve pakali pano likuyendetsa kukwera kwamitengo ndipo zaka 30 zokhazikika zobwereketsa ngongole zili pamlingo wapamwamba.

Komabe, ngati inflation ikuchepa kwambiri, Federal Reserve idzalowetsa chiwongoladzanja chochepetsera chiwongoladzanja ndipo chiwongoladzanja chibwereranso pamlingo wabwinobwino.

Ngati chiwongola dzanja chamsika chidzatsika m'tsogolomu, obwereka atha kuchepetsa mtengo wobweza ndikupindula ndi chiwongola dzanja chochepa popanda kubwezanso ndalama posankha ngongole yosinthidwa.

Kuonjezera apo, ngongole zomwe zingasinthidwe zimakhalanso ndi chiwongola dzanja chochepa panthawi yopereka ngongole kusiyana ndi ngongole zina za nthawi yokhazikika komanso zochepetsera zomwe zimaperekedwa pamwezi.

Kotero muzochitika zamakono, ngongole yosinthika yosinthika ingakhale chisankho chabwino.