The Hong Kong Monetary Authority (HKMA) raised its base rate by 0.25 percentage points on Thursday following the US Federal Reserve’s overnight move.
In announcing the decision, HKMA chief executive Norman Chan Tak-lam reiterated his warning to Hong Kong home buyers that mortgage rates will rise in the near future.
How would the change in base rate affect your mortgages? Here are some key concepts that would help you understand the impact.
Hong Kong interbank offered rate (HIBOR)
Banks…
Source : South China Morning Post
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