2025-07-18 28Hse Editor
The Federal Reserve Board expects to raise interest rates only in 2023. As the low interest rate era continues, Hong Kong’s new crown pneumonia epidemic has eased, the economy has gradually stabilized, and the purchasing power of the property market has exploded. Banks are preparing a new round of mortgage grabbing for business opportunities. It is rumored that Citibank raised the cash rebate for mortgage insurance schemes with a mortgage insurance plan of less than 10 million yuan, from 1% to a maximum of 1.3%. However, the cash rebate will be deducted from the loan amount in order to comply with the HKMA’s guidelines. The home buyers actually borrowed less than the original required mortgage ratio. reporter Yan Lunle and Liang Yueqin
According to market news, many large banks have recently raised the cash rebate for high-volume mortgages with mortgage insurance plans to range from 1.1% to 1.3%, and the cash rebate for refinancing has also risen to more than 1%. It has been reported that Citibank’s cash rebate for high-stake mortgages with a mortgage insurance plan of less than 10 million yuan has been increased from 1% to a maximum of 1.3%, that is, a cash rebate of 130,000 yuan for borrowing 10 million yuan. The 130,000 yuan cash rebate will be deducted from the loan amount, that is, only 9.87 million yuan was actually borrowed.
Banks actively promote discounts on ``Jumping Toothpaste''
Wang Meifeng, the managing director of Centaline Mortgage, pointed out that the bank had significantly reduced the cash rebate level last year. This year, the bank responded positively to the positive attitude. Some of the more motivated banks raised the cash rebate to attract different customers, but tended to offer discounts for "chi toothpaste". Competition is still rational and restrained, and offers also tend to be handled hierarchically, including designated loan amounts, large deposit bank customers or payroll account customers, etc., which will help banks attract different target customers.
Cao Deming, chief vice president of Jingluo Mortgage Referral, expects that more banks will follow suit in the future, including increasing cash rebates and gradually lowering the loan amount threshold for cash rebates, which will also have a positive impact on the property market. He continued that since the epidemic has strengthened risk management, there is little chance that banks will directly compete with mortgage interest rates. I believe that the level of H+1.3% will be maintained during the year. Taking into account the one-month interbank interest rate staying below 0.1%, the actual Interest rates will remain at around 1.5%.
He believes that since the epidemic has gradually eased, the economy has gradually stabilized, and the property market has shown strong resilience. In the first half of the year, the transaction volume of the property market has been very satisfactory, and property prices have also climbed up. Up. As the market is improving, he believes that in the future, banks will more actively consider absorbing more mortgage business, and then introduce more mortgage offers.
Newly built H saves nearly half of the interest rate
In fact, the latest one-month interest rate related to housing mortgages was reported at 0.07857%, down 0.006 basis points from the previous trading day, and fell below 0.08%. It even flattened the record on May 6 this year and hit an 11-year low. Calculated on the basis of the general mortgage interest rate H+1.3%, the effective interest rate is as low as 1.38%. At present, the capping position of the general H is calculated based on the best interest rate. The capping interest rate is 2.5%. Taking a loan amount of 3 million yuan as an example, the mortgage term is 25 years, and the capping interest rate is calculated as the monthly supply requirement.3,409 yuan, the interest expense of the whole period is about 1.0376 million yuan; but the monthly contribution of the new H is only 11,830 yuan according to the plan, and the interest of the whole period is 548,900 yuan. In other words, the full monthly payment was reduced by 1,579 yuan, and the interest expense for the whole period was saved by 488,700 yuan.
Regarding the continued decline in interest rates, Wang Meifeng believes that it has been close to 10 months for the balance of the Hong Kong banking system to exceed a historical high of 450 billion yuan, pushing down the 1-month interest rate, and the composite interest rate reflecting the average cost of funds of banks has also fallen for 7 consecutive months. The ultra-low level of 0.18% at the end of June, abundant funds and a low interest rate environment promoted banks with greater enthusiasm to increase mortgage discounts to attract customers.
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