住房贷款利率政策调整对住房价格的影响

摘要

Based on a review of the real interest rate policy in China,the article makes a qualitative analysis of China＇s housing price changes at different stages of interest rate policy adjustment,and makes an empirical study of the panel data of the real interest rate and the housing prices of 70 cities between 2006 and 2011.The results show that the real interest rate policy has an impact on housing price fluctuation to some extent and the sensitivity of housing price in different cities to the real interest rate is differential to some degree.Therefore,the article puts forward some suggestions of reasonably adjusting interest rate and deepening policy reform of differential real interest rate in different cities.%在回顾我国住房贷款利率政策的基础上,定性分析了利率政策调整对各阶段全国房价的影响,并从实证角度对住房贷款利率与我国70个大中城市的住房价格2006—2011年的面板数据进行了分析。结果表明：住房贷款利率政策在一定程度上影响着我国房价波动,不同城市的住房价格对住房贷款利率的敏感度不同。为此,提出了要合理调整利率并深化住房贷款利率差别化制度改革等政策建议。