Press H + 1.27% the lowest in the city

It was reported that Bank of China (02388) and Citigroup lowered the floor rate from H + 1.28% to H + 1.27%, the lowest in the city but with a loan requirement of over $ 8 million. According to the requirements of the HKMA, the maximum number of mortgage flats for properties of 10 million yuan or above is 50%. In other words, the above mortgage schemes only apply to properties with a property price of $ 16 million or above.

The price of more than 16 million only apply

A few days ago it was reported that BOC and Citigroup had granted individually-quality customers an entire mortgage loan as low as H + 1.27%. The cash rebate was up 1.6% to 1.7% and a high interest-linked deposit account was set. Meanwhile, the report also said that major banks are actively studying the short-term fixed-rate concession plan and will have the opportunity to launch this quarter.

At present, the ceiling of H is mostly at the best lending rate (P = 5.25% at most), which is 3.1% below the effective ceiling rate of 2.15%. Based on the one-month rate of 0.9371% yesterday, regardless of H + 1.27% H + 1.28% of the mortgage program, the actual interest rates have been more than 2.15%, which means that customers currently have little room for benefit.

According to the analysis by the industry, the interest reduction this time is mainly because individual banks actively seized the market in the first quarter of each year. In addition, it is possible to raise interest rates in the second half of the year. Therefore, some banks took the lead in attracting a number of high-quality customers before they took advantage of the government interest rate hike. However, in order to avoid “alarming” the regulatory authorities, the present rate of decrease is rather moderate. It is estimated that only a few banks will follow suit.

BOCI and Citigroup do not comment on market rumors. Bank of China also pointed out that as the United States is expected to raise interest rates again this year, there will be upward pressure on the cost of capital of banks and a limited downward adjustment of mortgage interest rates. At the same time, the Bank emphasizes that mortgage business is an important service that BOC Hong Kong helps citizens to settle in their homes. Will closely monitor market conditions and provide suitable mortgage products to maintain its competitiveness in the business and meet the needs of different clients.