Standard Chartered increases H and Hong Kong Bank increases P at any time
Wenwei  2022-11-22  Transaction 







The upper limit of interest rate lock is expanded by 0.25%, and the monthly supply of 5 million is increased by 686 yuan

There has been a stir in the society. Yesterday CLP and the Star Ferry said they would apply for a fare increase, and even the banks announced an increase in interest rates. Standard Chartered raised the ceiling interest rate of the new H mortgage by 0.25%, and the actual interest rate increased from the original 3.125% to 3.375%. The new H mortgage loan was 5 million yuan, and the monthly payment increased by 686 yuan compared with before the interest rate increase, an increase of 3.2%. The industry pointed out that this time, some large banks raised the upper limit of the H mortgage interest rate, which will start a new wave of interest rate hikes. At the same time, it is expected that the Bank of Hong Kong will raise the prime rate (P) again next month with the Fed’s interest rate hike, with a range of about 0.25% , which puts a lot of pressure on property buyers, and property prices may be further pressured as the economy slows down. ◆Hong Kong Wen Wei Po reporter Li Zitian

When Standard Chartered Bank responded to the Hong Kong Wen Wei Po inquiry yesterday, it stated that starting today (22nd), the upper limit of the interest rate lock of the bank's interim mortgage plan will be raised from P-2.5% to P-2.25%. The bank's P is 5.625%. , that is, the effective interest rate rose from 3.125% to 3.375%, making it the local large bank with the highest capped interest rate. Compared with the current market minimum interest rate is 2.875%.

Interbank short-term challenge 4% interest rate increase has not been completed

Cao Deming, the chief vice president of Meridian Mortgage Referral, said yesterday that looking back at the two months before Hong Kong’s interest rate hike (prime rate) in September this year, many banks have already raised the upper limit of the H mortgage interest rate as a prelude to the bank’s P increase. As the United States has raised interest rates several times this year, the market expects the Fed to raise interest rates by 0.5% next month, and the interest rate differential between Hong Kong and the United States will further widen. Yesterday, the one-month Hong Kong offered rate was reported at 3.65%, which has remained above 3% for 21 consecutive working days. It is believed that HIBOR will challenge the 4% level in a short time.

In addition, Cao Deming mentioned that the balance of the Hong Kong banking systemRepeatedly falling to about 96.7 billion yuan, the pressure on Hong Kong's interest rate and bank capital costs has increased sharply. Hong Kong Mortgage Corporation Limited has raised the planned interest rate for the eighth time recently. Cao expects that the Hong Kong bank will raise P again next month. , with an amplitude of about 0.25%. Therefore, in order to ensure profits and respond to the cost of funds, the bank raised the upper limit of the interest rate lock of the H mortgage again, and prepared for the rise in interest rates. It is expected that other banks may follow.

Wang Meifeng, managing director of Centaline Mortgage, pointed out that under the cycle of interest rate hikes with rising US interest rates and decreasing bank balances, the one-month Hong Kong dollar interbank interest rate related to real estate mortgages has risen to 3.65% yesterday, a new high in the past 14 years, higher than The main interest rate in the market ranges from 2.875% to 3.125%, reaching 0.525% to 0.775%, reflecting the pressure of banks on rising capital costs and raising interest rates.

Interest rate difference widens and shop around

In terms of coping strategies for home buyers, Wang Meifeng pointed out that after individual banks temporarily adjusted the new mortgage interest rate, the current gap between the new mortgage interest rates among banks has further widened, and the market interest rate has been adjusted from 2.875% to 3.125% to 2.875% From 3.375% to 3.375%, the interest rate difference between banks is as high as 25 to 50 points; comparing the current market interest rate as high as 3.375% with the interest rate as low as 2.875%, the interest rate difference is as high as 0.5%, and the loan amount is 5 million yuan and For a 30-year period, the monthly repayment difference is 1,360 yuan or 6.6%, which is expected to attract mortgage customers to banks with low interest rates.

Zhuang Jinhui, CEO of Star Valley Mortgage, also said that in the past, most banks maintained the same pricing interest rate policy or no longer. Banks tend to formulate different interest rate arrangements depending on their own operations and risk strategies to ensure profits. Therefore, home buyers apply for mortgages When shopping around, you need to choose the bank with the lowest interest rate and the highest rebate. Those who buy a car or re-mortgage need to submit a mortgage application form as soon as possible to lock in a relatively flat interest rate while other banks have not adjusted their interest rate policies.

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