2024-04-25 28Hse Editor
All the four major banks in Hong Kong adjusted the cap rate of newly-created H mortgage. BOC Hong Kong also adjusted the specific mortgage interest yesterday, raising the cap rate of H mortgage by 0.25% to the actual mortgage interest rate of 2.75%, which is in line with HSBC, and the best interest rate mortgage (P mortgage) Only increased by 0.1% to the actual interest rate of 2.6% (P-2.4%), so that the actual interest rate of the H rate is 0.15% higher than that of the P rate. The relevant adjustments will take effect next Thursday (15th) and are only applicable to second-hand property applications. Some mortgage experts believe that this adjustment of mortgage rates reflects the positive attitude of banks, and will also promote second-hand property users to choose P mortgages. For every second-hand and newly-built H borrowed 5 million yuan, the monthly payment is about 656 yuan, and the P loan is 261 yuan more. Later, Hang Seng announced in the evening that it will also adjust the cap rate of the new H mortgage from September 15, from P-2.5% to P-2.25%, that is, the actual mortgage interest is 2.75%, and the new P mortgage loan interest rate is P-2.4% . ◆reporters Li Zitian and Ma Cuimei
Referring to the data of Centaline Mortgage Research Department, BOCHK's existing mortgage market share reached 26.5% in August, and it has been the champion of existing mortgage market for 13 consecutive months. On the eve of the Fed's interest rate meeting at the end of this month, many Hong Kong banks have already "followed" to adjust the cap rate of the H rate, and BOC is the first bank to adjust the actual rate of the P rate. A spokesman for the bank said that it will review mortgage service conditions from time to time in accordance with market conditions and customer needs, so as to maintain business competitiveness and provide customers with different mortgage service plans. In the past period of time, the capped interest rate of H according to the plan was basically the same as the interest rate of the P according to the plan. Therefore, in the environment of rising interest rates, in addition to providing the H according to the plan, it also launched a different interest rate according to the P according to the plan. , so that customers who intend to buy a home have one more choice.
BOC Adjusted Mortgage Interest Only for Second-hand
Wang Meifeng, managing director of Centaline Mortgage, pointed out that this time, the Bank of China adjusted its mortgage interest strategy, reflecting the positive attitude of the bank's mortgages, and promoting second-hand property users to choose P mortgages. %, while the interest rate for first-hand properties remains at 2.5%, which is good news for property buyers. In view of the fact that the interest rate of the first-hand buildings is better than that of the second-hand buildings, the situation that the first-hand buildings are more prosperous than the second-hand buildings will continue. Since the new adjustment will only take effect on September 15, she expects that there will be a short-term end of the market to speed up the submission of new mortgage remortgage applications.
Wang Meifeng said that this adjustment is only affected by new mortgage applicants, and old mortgage customers who are already mortgaged are not affected. For second-hand property buyers, new mortgages, if they choose P mortgage, the mortgage interest is as low as 2.6%, compared with the original P mortgage interest and H mortgage capped interest rate of 2.5%, for 30 years, the monthly payment increases for every 1 million yuan of mortgage amount 52 yuan, an increase of 1.3%. If the H mortgage is selected, the cap rate will rise to 2.75%, and the monthly payment will increase by RMB 131 per RMB 1 million of the mortgage amount for a 30-year term, an increase of 3.3%. She also pointed out that the increase in the interest rate of the second-hand property P was only 0.1%, and the actual interest rate was 2.6%, which was lower than the actual interest rate of 2.75% after the H mortgage was capped.It will promote second-hand property users to choose P-press, so that the proportion of P-press selection will rebound (the figure in July was 1%), and the situation of the dominant market of H-press may be changed (the figure in July was 96.8%).
Cao Deming, the chief vice president of Meridian Mortgage Referral, said that the upper limit of the H mortgage interest rate of BOC's first-hand new projects remains at 2.5%. The actual mortgage interest and stress test requirements of the P mortgage are lower than the upper limit of the H mortgage. It is expected that the interest will increase. It is believed that the mortgage plans of banks will develop in different directions in the future, and the proportion of the H mortgage may fall from a high level. .
Hang Seng capped interest rates on par with HSBC
On the other hand, a Hang Seng spokesman said last night that according to the latest market development, the bank will adjust the cap rate of the newly-made H mortgage from P-2.5% to P-2.25% from September 15, that is, the actual mortgage rate will be increased from P-2.5% to P-2.25%. The interest rate is 2.75%, which is on par with HSBC. In addition, the new P mortgage loan interest rate is P-2.4%. Hang Seng stated that the interest rate will depend on factors such as market conditions, customer repayment ability and loan amount, and will be reviewed from time to time in light of market conditions.
Hong Kong Bank is on the verge of adding P "prelude"
Xie Jiaxi, an economist at DBS Hong Kong Economic Research Department, said that under this round of interest rate hike cycle, Hong Kong has not followed the increase of P, and recently many banks have raised the cap rate of new H-press, which is expected to be a "prelude to the increase of P by Hong Kong banks. ". The Federal Reserve will discuss interest rates at the end of this month. It is expected that the Bank of Hong Kong will have the opportunity to increase P by 0.25% within this month, and it is expected to have the opportunity to increase P twice this year, that is, a total of 50%.
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