Hong Kong mortgage interest rates will rise in housing or the worst of 24 years

Under the Federal Reserve's interest rate hike, Hong Kong's bank loan interest rate may rise, and the burden on the local housing market may reach the worst degree of the worst in 24 years.

According to BloomberThe highest level since 1998.

Analysts Patrick Wong and Francis Chan wrote in a report on Thursday (22nd) that the high burden ratio may scare back buyers, unless household income increased significantly, or house prices fell further.To keep this ratio at about 56%, house prices need to decrease from the current level at least 10%.

Earlier, Yu Weiwen, president of the Hong Kong HKMA, told reporters on Thursday that as the Fed continued to raise interest rates sharply, the Hong Kong banking industry "is very likely" to increase the interest rate interest rate before the end of the year.This is the first time that the HKMA hinted that the banking industry may increase interest rates.The HKMA raised the basic interest rate of 75 basis on Thursday to 3.5%, which was consistent with the Fed's interest rate hike.

In August, HSBC Holdings and Standard Chartered Group will increase the upper limit of the mortgage loan interest rate linked to the Hong Kong Bank's interbank interest rate (Hibor).