[摘　要]　为了提高住房公积金对广大职工自住住房融资的支持力度，公积金贷款有必要从浮动利率转变为固定利率。从住房公积金的准封闭运行模式和其与德国住房储蓄模式的比较来看，固定利率住房公积金模式有其运行的可行性。分析了固定利率贷款模式下住房公积金贷款机构所面临的主要风险，认为与普通住房抵押贷款相比，其违约风险和提前还款风险很低，但存在相当的利率风险。最后，在此基础上提出了控制贷款风险，特别是利率风险的有效方法。
[关键词]　住房公积金；固定利率抵押贷款；利率风险
Abstract: For helping the normal families owning their own house, mortgage from the housing public accumulation funds must change from adjustable rate mortgage to fixed rate one. After analyzing the close-down working pattern of the housing public accumulation funds, and comparing it with the housing funds pattern from Germany, it is pointed out that the housing public accumulation funds can use the fixed rate mortgage in providing their loan. After these analysis, discusses the main risks that the finance institution facing in providing such kind of loans. The conclusion is, its default risk and prepayment risk are much lower than normal housing mortgage, on the other hand, its interest rate risk is still high. So, finally discusses the way to control the interest risk efficiently.
Key words: housing public accumulation funds; fixed rate mortgage; interest rate risk
[参考文献]
[1]闫立本，韩彦冬.住房公积金利率政策研究[J].中国房地产，2003（1）：15-18.
[2]文林峰.创新住房公积金使用制度 充分发挥住房保障作用[J].北京房地产，2006（12）：75-77.
[3]唐旭君.实施固定利率住房公积金贷款的可行性分析[J].中国房地产金融，2008（5）：11-13.
[4]文林峰.公积金贷款利率宜降至2%~3%[J].中国房地信息，2006（10）：46.
[5]关永宏，段淳林.论住房公积金贷款流程的优化措施与风险控制[J].经济问题，2007（7）：106-108.
[6]井深.现阶段住房公积金购买国债业务的思考与实践：利率调整对住房公积金购买国债的影响[J].中国房地产金融，2005（5）：39-40.
[7]陈瑾.论住房公积金制度的运行效率[J].建筑经济，2008（1）：87-89.
[8]Willian B. Brueggeman， Jeffrey D. Fisher． Real estate finance and investments[M].10th edition. McGraw-Hill，1997.
建筑经济，2009（5）：52-55