26/5/2017-6

Gold tube two strokes a week and then tighten the mortgage

The bank will continue to stop the mortgage business, so that the market risk further accumulation, forcing the Monetary Authority on Friday (19) to move again, resorted to the first eight rounds of three tightening floor by Measures, including a reduction of 10 percentage points on the number of borrowers’ mortgages on more than one mortgage (ie, non-first place), and the “contribution and income ratio” of the contributors from outside Hong Kong (DSR ) To a 10% lower limit, while raising the lower limit on the “risk weight” of new mortgage loans by 15% to 25%, increasing the bank’s capital requirements. This is the second time after the announcement of tightening the developer’s loan on Friday (12th), the second half of the week.

For investors and overseas buyers

Market participants believe that the new hot strokes mainly for investors, and want to make banks competing to reduce interest rates to grab the business situation convergence, but it is estimated that the effectiveness of curbing property prices is limited.

The three new measures will come into effect today, but mortgage applications for temporary purchase and sale contracts on or before Friday will not be affected. After the “plus spicy”, more than one mortgage borrower, the purchase of property under 10 million yuan of self-use property, mortgage ceiling from 60% to 50%, 10 million yuan or more property mortgage by 50% Down to 40%.

As for the “contribution and income ratio” of borrowers from outside Hong Kong, the basic rate ceiling is reduced from 50% to 40%. If the borrower has more than one mortgage at the same time, the upper limit is reduced by 40% To 30%. In addition, the use of the “internal assessment law” of the bank mortgage loans, are to the new “risk weight” 25% lower limit, calculate the business requirements of the capital.

The Chief Executive of the HKMA, Mr Chan Tak-lin, pointed out that due to the overheating of the property market, the recent increase in risk, coupled with the fierce competition in the mortgage market, in order to maintain the stability of the banking system, so the introduction of a new round of counter-cyclical measures, do not rule out the need to continue to move. As to why the property prices have fallen, he has said that “there is little impact on the property market,” but property prices and trading volume are also affected by other factors, so it is difficult to predict the actual impact of the new measures.

Mr Tsang said that the new tactics were mainly aimed at two types of borrowers with higher risk, including borrowers with multiple mortgages and major income not coming from Hong Kong. The proportion of more than one mortgage in the newly approved loans was about 20% The proportion is not low, tightening measures to help banks to manage the risk; as income from outside Hong Kong borrowers, accounting for about 2% of new loans, although the ratio is not high, only rising trend, because their income and debt is difficult to verify It is necessary to introduce tightening measures.

Shi Yongqing: the wrong medicine helpless first home

According to the HKMA, the number of new mortgages involving a number of mortgage borrowers rose from 920 in February to 2346 in November, when the Government introduced the “stamp duty on the purchase of second or more residential units Rate, to 15% of the price of property. “The number of related mortgage cases dropped back to 1453 in February this year, but in March it rose to 1710. Revenue from borrowers outside Hong Kong, the new mortgage in February last year, 120 cases, to October increased to 205, then came down, but in March this year, rose to 239 cases.

Zhongyuan Group Chairman Shi Yongqing said that the new hot strokes will certainly have an immediate impact on the property market, but that “it is only food Zuo good resistance, food are very responsive,” if it is open the wrong medicine, eat two will not heal The He said that ample funds will still choose to buy bricks to preserve and keep, if the market is not much change, the new hot strokes helpless first time home buyers “on the train.”

Nan Fung Development Managing Director Cai Hongxing said that every time the introduction of hot strokes, the buyer will inevitably “Air a Air, stop a stop” on the property market will only cause short-term psychological impact, but failed to really curb property prices, and investor capital So that they will continue to enter the market.