The interest rate fell back HSBC’s minimum H plus 1.25 PCT
As interbank interest rates fell, the focus of bank mortgages reversed to H. According to the market, after individual banks reduced the H-interest rate, HSBC Bank also reduced the interest rate of large-scale loans of 10 million yuan to H plus 1.25 per cent. At 1.8%, the actual interest rate can be less than 2%.
The industry expects that in the short term, other banks will be encouraged to follow H’s interest rate cuts and a new round of snatches will accelerate the pace of warming.
The balance of the banking system was sufficient. The one-month interbank interest rate fell from the high of the beginning of the year to 1.2% and fell to a low level of 0.71%. Reference to the current market generally offer interest rates as low as H plus 1.26 to 1.28, the actual interest rate ranged from 1.97% to 1.99%, which is lower than the capping rate of 2.15%.
As a result, some small and medium-sized banks have lowered their H interest rates. Last week, for Citigroup, a large-value building with a market value of more than 8 million yuan, the minimum H-interest rate was reduced from 1.27 to 1.25 cents. The cash rebate could be awarded individually. Not more than 1.9%.
Loan threshold exceeding 10 million
According to the news, HSBC’s HSBC will also follow the rate cuts. H’s interest rate can be as low as H plus 1.25 per cent over the full term, the loan threshold is over RMB 10 million, and the actual mortgage interest rate can be less than 2%; According to the Wing Building, consideration may be given to awarding interest rates as low as H plus 1.26%, but rebates are maintained at a maximum of 1.8%.
Another major bank, Bank of China (02388), reported that it is currently building for more than 8 million yuan, which can create a minimum interest rate of H plus 1.26 per cent.
At present, mainstream banks in the market adopt the interbank interest rate (individuals such as OCBC Wing Hang and Dah Sing will use dual independent and interbank borrowing rates for reference). However, HSBC is the leading company with large deposit fund flows. The Bank and its fellow Hang Seng ( 00011) adopts independent interest rates on interbank lending, which are generally around 0.1% to 0.3% lower than interbank rates. Therefore, this time, HSBC has lowered the interest rate of H to H plus 1.25%, which is believed to be the level H in the city.
Industry expects long-term interest rate cuts are small
Liu Yuanyuan, chief vice president of Merrill Lynch, said that the leading banks are actively pursuing mortgage business, and the four major banking markets in recent months accounted for more than 60% of the overall level. It is believed that more banks will follow the introduction of the equivalent interest rate plan. However, the United States may accelerate the pace of raising interest rates. As Hong Kong has the opportunity to follow the interest rate increase during the year, it is expected that the fixed-rate utilization rate will remain high.
Some people in the banking industry believe that Daxing is once again taking the lead in pushing interest rates on H. It is estimated that small and medium-sized banks will further increase their cash rebate ratios to maintain their competitiveness, and they will increase the speed of the war. However, there is little room for a long-term H interest rate cut.