Fine Bank Pushes H+1.24% Sucker
Fixed-rate mortgage products gradually halted, market focus back to H, there are small and medium-sized banks preemptively cut down H to preferential access, launch full-year H plus 1.24 cents, the actual interest rate 2.09%, the industry estimates short-term There will be big banks following interest rate cuts to set off a new wave of interest rate cuts.
Hong Kong will increase the interest rate with the United States
Mortgage products are becoming more and more fierce. In the past two months, banks have swarmed with fixed-income mortgage products. In the middle of last month, at least eight banks launched their first-year fixed-rate plans. The first-year interest rates are all aligned at a fixed interest rate of 1.6%, making fixed-rate mortgage products a market. The share has soared to about 28%, but the market expects Hong Kong banks to pledge to raise interest rates with the United States in the second half of the year. As a result, the number of fixed-rate mortgage products began to be suspended at the end of last month. Market focus returned to H. According to the product, Bank of China (02388), HSBC, etc. The major banks reduced H by a discount of 1.26% over the full period of H, and HIBOR by 0.85% yesterday. The actual mortgage interest rate was 2.11%.
Rebate up to 1.95%
However, there are small and medium-sized banks that hope to break through. In the middle of last month, the low-key plan to launch a full-term H plus 1.25 per cent low-interest solution attracts customers. At the beginning of this month, the relevant banks further cut interest rates and launched more attractive full-time H plus 1.24 PCT solutions. With a HIBOR of 0.85 percent yesterday, the actual mortgage interest rate is 2.09 percent, which is about 0.02 percent lower than that of the traditional big bank proposal. It is temporarily the most attractive low-interest solution for the market.
In addition, relevant low-interest solutions still provide high-interest deposit-linked accounts, and the cash rebate can be up to 1.95% of the loan amount, which is also higher than that of Dazhong Bank. However, applicants must borrow more than RMB 8 million and they must apply for a credit card at the bank. This shows that banks are still fighting for high quality customers for the time being.
The director of the Lijiage Mortgage Corporation, Huang Yuxin, frankly stated that the bank has always attached great importance to the building’s business. In the past two months, it has concentrated resources to seize the fixed-rate mortgage market. Currently, fixed-rate products have begun to be suspended (only two banks still have a fixed-rate option), and banks can only use products according to H. In addition, cash rebates are subject to competition. Therefore, it is not ruled out that other large banks will follow the interest rate cut in the short term. It is expected that the actual mortgage interest rate in the second quarter will still have room for downward adjustment. It is believed that the adoption rate of H by products will regain 80% or more in the short term.