Two local lenders in Hong Kong have lifted their mortgage rates for the sixth time this year, raising rates by as much as 0.7 percentage points, according to The Standard.
BOC Hong Kong said the new rates, which will be offered at between 2.5 and three percent, will be imposed starting today. The bank’s HIBOR-based rates will also be increased to HIBOR plus 2.4 to 2.9 percent, from the previous HIBOR plus two to 2.5 percent.
Meanwhile, Bank of East Asia (BEA) also raised its prime-based mortgage rates to between prime minus 2.1 and 2.6 percent, from prime minus 2.25 to 2.75 percent. With the bank’s prime rate standing at 5.25 percent, the new mortgage rate will range from 2.65 to 3.15 percent.
HIBOR-based rates at BEA remain unchanged. Meanwhile, BOC has been ranked the second largest mortgage provider in the SAR as of October, according to Centaline Mortgage Broker Limited.
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