The interest rate on the interbank rate remains high P Press the advantage over H

Recently, the interbank interest rate (HIBOR) continues to rise. The borrowing costs of small and medium-sized banks have risen. H has become even more modest in terms of product profits. Small and medium-sized banks have only tightened their H discounts on products, hoping to push buyers to switch to P presses (at the best possible rate) ).

The small and medium-sized banks took advantage of the concessions for two consecutive weeks. The most important reason was that the interest rate on the delisting continued to be high. It was reported that 1.3% was a high level in the past half year. The pressure on borrowing costs of small and medium-sized banks increased, and H’s profits were extremely limited.

Several small and medium-sized banks, including CCB (00939), CITIC (00998), and Wing Hang, tightened H by a margin of 3 per cent (actual interest rate of 2.25 per cent) last week and adjusted interest rates by 0.1%. As of yesterday, small banks H increased their interest rates by 1.28% from the previous full-year H to 1.4% for the whole period and 0.12% in disguised terms. Even the cash rebate was reduced from the original 1.7% to 0.7%. If 1-month interbank rates were reported at 1.3% yesterday, yesterday’s H’s interest rate was 2.25 per cent, while P’s was 2.15 per cent. The P cash rebate is 1% of the loan amount, which is more attractive than H’s 0.7%.

In April, it will be selected according to the proportion of innovation and high

The above move makes it easy to see that small and medium-sized banks actually want to push their customers to the P product market. According to figures from the Hong Kong Monetary Authority, the latest batch of new mortgage loans in April will continue to rise to 49.3% according to the percentage of choice, which is a record high. H accounted for 46.3% of the selection rate, which was the lowest since January 2014; P was 2.4%.

Since large banks have stopped launching fixed-line products since April, although H is favored by more homebuyers, it does not rule out that some will switch to P-market.

However, it is worth noting that Hong Kong’s property market has been dominated by major banks. The five largest banks have a market share of 80%, while other small and medium-sized banks have an average market share of less than 3%. From H to P to market, it still depends on the position of large banks.