Real estate market
Written by: Xu Shihao
2020-02-26 13:13
Last updated: 2020-02-26 13:36In order to reduce the risk of owners facing interest rate fluctuations in the future. When the Financial Secretary, Chen Maobo, read the new Budget, he said that the Hong Kong Mortgage Corporation will launch a trial scheme through banks to provide 10, 15 and 20 caps of 10 million yuan and annual interest rates of 2.75%, 2.85% and 2.95 respectively A fixed-term mortgage loan with a fixed term.
Zhuang Jinhui, the Chief Executive Officer of Star Valley Mortgage, pointed out that the current mortgage rate is currently 2.5%. Taking the "borrowed" 10 million yuan loan as an example, the repayment period is 20 years, and the fixed rate mortgage rate is 2.95%. The interest rate level is also maintained at 2.5%. The monthly payment can vary by more than 2,000 yuan, and the additional expenditure during the repayment period is as much as 532,000 yuan.
He also said that fixed-rate mortgages are a bet on future interest rates. The current U.S. Treasury yield rate is upside down. The market is not expected to raise interest rates in the future and may even have the opportunity to reduce interest rates. "Car" is not significant.
Therefore, he estimated that the government ’s introduction of “fixed-rate mortgages” may pave the way for easing mortgage restrictions on property prices exceeding 10 million yuan. Lou's (mortgage) restrictions, but according to the family information are not available, you have to wait for the details of the Prophet. "
Meridian: easier for owners to manage monthly contributions
Cao Deming, chief vice president of Meridian Mortgage Referral, said the new measures will help develop a long-term and stable mortgage market that is on par with other developed countries. In the past, banks usually have fixed-interest plans, but they usually have a duration of about 1 to 3 years, and the duration is short.
Meridian believes that the new measures introduced by Chen Maobo will help Hong Kong develop a long-term and stable mortgage market. (Photo by Ou Jiale)
He pointed out that this time the government led the introduction of a longer-term fixed interest rate plan, although the interest rate was higher than the mortgage loan interest rate provided by universal banks P-2.5% (P is 5%), that is, the actual interest rate was slightly higher than 2.5%, reflecting the cost and Risk premium, but the measures will allow citizens to have more choices and budgets, and it is easier to manage monthly contributions, reduce the risk of interest rate fluctuations, and avoid the increase in the best interest rate (P) when it meets the interest rate increase cycle in the future and even the mortgage payment increase.
In fact, the fixed-rate mortgage plan was the most widely used mortgage product in early 2018, with a selection rate of 49.3%. Cao Deming said that because the interest rate of the fixed-rate mortgage plan at that time was lower than that of other floating-rate mortgage plans, and under the interest rate increase cycle, mortgage customers wanted to stabilize their contributions and reduce interest expenses, so they were picked by a large number of customers.
Lin Haowen: No significant impact on property prices
Knight Hao, Executive Director and Head of the Valuation and Advisory Department of Knight Frank, believes that the "fixed interest rate mortgage" measure gives buyers an additional option to reduce the impact of interest rate fluctuations, which is conducive to property transactions below 10 million yuan, but has no significant impact on property prices .
[Budget 2020] The 10-year annual interest rate of the government's presumed mortgage loan is 2.75%
Mortgage / mortgage