2017年10月17日星期二
 
專家論市
Martin Hennecke

Mortgage increases expected to be gradual
 
16/06/2017
 
Ricacorp Mortgage Agency managing director Wong Wing-yan has reminded potential buyers that once the rate-hike cycle begins, there will be gradual increases.

A typical rate-hike cycle usually continued for two to three years, and it was likely that the rate would increase a further 2 to 3 percent, putting more pressure on mortgage payments, Wong said.

Wong predicts local banks in Hong Kong will increase the rate this year only once, by 0.25 percent, probably in the fourth quarter.

Meanwhile, Louis Chan Wing-kit, Asia-Pacific chief executive of Centaline Property Agency, expects a slower pace of increase in home prices in the third quarter, from three to five percent.

Chan said the purchasing power would remain concentrated in the primary market, while the rate hike would lead to a 20 percent decrease in the transaction volume in the secondary market.

Chief economic analyst Sharmaine Lau Yuen-yuen of mReferral Mortgage Brokerage Services, a joint venture of Midland Holdings Limited and CK Hutchison Holdings, said the effect of the rate hike on potential buyers in Hong Kong would be minimal, as a mild rate increase is expected.

Lau believes that the mortgage rate will remain at a low level, and expects local banks will not increase the rate significantly, to remain competitive.

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