CK Asset to set up fixed-rate mortgage for Yau Tong project

(Leung Yuet-kam) As the Federal Reserve gears up for interest rate discussions next week, the market sentiment remains bearish. With market concerns about interest rate trends, chief sales manager William Kwok Tze-wai said yesterday that showrooms for The Coast Line II in Yau Tong will open to the public next week, and the first price list will be announced as soon as possible, amid discussions with financial institutions to launch mortgage plans with a short-term fixed interest rate. 

Showrooms to open from next week 

According to Kwok, 

To address prospective buyers’ concerns about the interest rate hike, the Group is now discussing with the relevant financial institutions with a view to launching short-term fixed-rate mortgage plans for the first two years, with the interest rate expected to be in the range of 3% to 4%, said Kwok. He added that, judging from recent data, US interest rates may not peak. In the event of a further interest rate hike, however, the Hong Kong property market should remain relatively unaffected, and the second half of next year should see interest rate reductions.