{"id":114974,"date":"2020-03-18T07:00:16","date_gmt":"2020-03-18T00:00:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hongkongers-under-siege-as-banks-turn-wary-on-mortgage-loans-with-jobs-in-virus-hit-sectors-on-the-line\/"},"modified":"2020-03-18T08:03:10","modified_gmt":"2020-03-18T01:03:10","slug":"hongkongers-under-siege-as-banks-turn-wary-on-mortgage-loans-with-jobs-in-virus-hit-sectors-on-the-line","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hongkongers-under-siege-as-banks-turn-wary-on-mortgage-loans-with-jobs-in-virus-hit-sectors-on-the-line\/","title":{"rendered":"Hongkongers under siege as banks turn wary on mortgage loans with jobs in virus-hit sectors on the line"},"content":{"rendered":"


\nHongkongers are facing a crunch time as the coronavirus pandemic induced the deepest labour-market retrenchment since 2011, making lenders wary of lending to people in the most vulnerable sectors.Some 134,100 people lost their jobs last month, according to government data, driving the unemployment rate up for a fifth straight month to a nine-year high of 3.7 per cent. Within the consumption and tourism-related segment, the rate has reached the worst since the global financial crisis.As the\u2026
\n
\nSource : South China Morning Post
\nRead more…Hongkongers under siege as banks turn wary on mortgage loans with jobs in virus-hit sectors on the line<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hongkongers are facing a crunch time as the coronavirus pandemic induced the deepest labour-market retrenchment...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-114974","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tUq","jetpack-related-posts":[{"id":107351,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tightened-mortgage-lending-has-pushed-hongkongers-into-arms-of-cash-rich-developers-and-their-expensive-property-loans\/","url_meta":{"origin":114974,"position":0},"title":"Tightened mortgage lending has pushed Hongkongers into arms of cash-rich developers and their expensive property loans","date":"May 22, 2019","format":false,"excerpt":"\r Squeezed out of owning an old home in the city by tightened mortgage rules, Hongkongers are increasingly buying smaller but more expensive new apartments. Unable to apply for an adequate mortgage from banks, they are turning to developers, who provide loans amounting to as much as 90 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":170303,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-lower-us-interest-rates-will-help-hongkongers-even-if-local-prime-rates-dont-drop\/","url_meta":{"origin":114974,"position":1},"title":"How lower US interest rates will help Hongkongers even if local prime rates don\u2019t drop","date":"January 26, 2026","format":false,"excerpt":"\r Hong Kong banks may not cut their prime rates this year, but local interbank rates will still follow US rates lower, benefiting a majority of borrowers, according to a senior executive of the Hong Kong Monetary Authority (HKMA). Analysts widely expect the US Federal Reserve to cut its key\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98908,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hongkongers-addicted-to-property-as-eager-buyers-snap-up-first-launch-after-prime-rate-rise\/","url_meta":{"origin":114974,"position":2},"title":"Hongkongers addicted to property as eager buyers snap up first launch after prime rate rise","date":"October 1, 2018","format":false,"excerpt":"\r Investors on Monday snapped up all 347 flats in a new project in Tuen Mun, ignoring the rise in prime rates, which marked the end of a 12-year low-interest rate environment in the world\u2019s most expensive property market. The sale came after data showed that Hong Kong\u2019s home prices\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91368,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hongkongers-will-feel-the-squeeze-as-mortgage-rates-gain-momentum\/","url_meta":{"origin":114974,"position":3},"title":"Hongkongers will feel the squeeze as mortgage rates gain momentum","date":"June 14, 2018","format":false,"excerpt":"\r The monthly mortgage repayment of homeowners in Hong Kong is expected to rise to 70 per cent of their monthly income by the end of this year \u2013 the highest level in nearly two decades \u2013 as mortgage rates kick upwards and home prices show no signs of abating,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109043,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heres-what-hongkongers-need-to-know-about-cash-rebates-on-mortgage-transfers\/","url_meta":{"origin":114974,"position":4},"title":"Here\u2019s what Hongkongers need to know about cash rebates on mortgage transfers","date":"July 16, 2019","format":false,"excerpt":"\r HSBC\u2019s abrupt and drastic cut in cash rebate on mortgage refinancing from 2.1 per cent to 1.5 per cent last month startled the mortgage industry.\r\rAssuming an average loan size of HK$4 million (US$511,000), the borrower would now get HK$24,000 less cash rebate for refinancing at HSBC.\r\rRefinancing has grown by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117314,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-hung-kai-malls-to-give-away-nearly-us1-million-in-cash-vouchers-to-woo-back-coronavirus-wary-shoppers\/","url_meta":{"origin":114974,"position":5},"title":"Sun Hung Kai malls to give away nearly US$1 million in cash vouchers to woo back coronavirus-wary shoppers","date":"June 24, 2020","format":false,"excerpt":"\r How desperate are Hong Kong mall operators to lure coronavirus-wary shoppers back? One is offering close to US$1 million worth of cash vouchers to shoppers in July to get their shop-\u2019til-you-drop juices flowing again.The effort comes as malls scramble to keep stores from putting out the dreaded \u201cgoing out\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114974"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=114974"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/114974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=114974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=114974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=114974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}