Large banks may increase the mortgage cap interest rate!
According to market sources, HSBC plans to increase the capped interest rate of H to P minus 2% at the beginning of next month, that is, the capped interest rate will be increased to 3.375%, an increase of 0.25%.
On August 18 this year, HSBC announced that it will raise the cap rate of the H interest rate from now on, and reduce the prime rate (P) by 2.5% to P minus 2.25%.
Taking the bank's P as 5.375%, the current actual capped interest rate is 3.125%.
It is worth mentioning that starting this Monday (21st), Standard Chartered will increase the ceiling interest rate cap on new H mortgages from P minus 2.5% to P minus 2.25%.
Based on Standard Chartered's current P interest rate of 5.625%, that is, the upper limit of the actual mortgage payment interest rate is raised from 3.125% to 3.375%.
Star Valley Zhuang Jinhui: If the burden continues to rise, it will be obvious
Zhuang Jinhui, CEO of Star Valley, said that the one-year Hibor is currently above 5.6%. Therefore, the market estimates that the one-month interest rate will continue to rise in the short term.
Since hibor reflects the bank's capital cost, based on the H interest rate plus 1.3%, the nominal H interest rate has reached 5.4%, far exceeding the current cap rate of large banks, so banks need to raise the cap rate.
In addition, Zhuang believes that the best interest rate needs to maintain a reasonable interest rate difference with hibor, so the best interest rate also needs to continue to follow the rise. It is expected that P will have a chance to increase by 0.25% in December, rising to 5.5%.
Every time the Bank of Hong Kong raises the interest rate by 0.25%, the monthly payment will increase by 135 Hong Kong dollars for every 1 million loans and the repayment period is 30 years. The burden will be obvious. If it is increased by one percent in the next year, the loan amount will increase by about 550 Hong Kong dollars for every 1 million yuan, that is, if you borrow 4 million yuan, you will need to pay about 2,200 yuan more per month.