{"id":98631,"date":"2018-09-27T10:39:19","date_gmt":"2018-09-27T03:39:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hsbc-raises-hong-kong-prime-rate-for-the-first-time-in-a-decade-ending-era-of-cheap-funds\/"},"modified":"2018-09-27T11:03:25","modified_gmt":"2018-09-27T04:03:25","slug":"hsbc-raises-hong-kong-prime-rate-for-the-first-time-in-a-decade-ending-era-of-cheap-funds","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hsbc-raises-hong-kong-prime-rate-for-the-first-time-in-a-decade-ending-era-of-cheap-funds\/","title":{"rendered":"HSBC raises Hong Kong prime rate for the first time in a decade, ending era of cheap funds"},"content":{"rendered":"


\nHSBC has become the first commercial bank to raise its prime rate in Hong Kong, taking its cue from the US Federal Reserve and the Hong Kong Monetary Authority in ending a decade of cheap capital.
\nThe base lending rate for borrowers will be raised by 12.5 basis points to 5.125 per cent, from 5 per cent, effective September 28 , HSBC said in a statement. The savings rate on local currency deposits will be raised by 12.4 basis points to 0.125 per cent, from 0.001 per cent.
\nThe moves follow a 25-…
\n
\nSource : South China Morning Post
\nRead more…HSBC raises Hong Kong prime rate for the first time in a decade, ending era of cheap funds<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HSBC has become the first commercial bank to raise its prime rate in Hong Kong,...<\/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-98631","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-pEP","jetpack-related-posts":[{"id":128722,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hsbc-raises-mortgage-rate-dealing-a-blow-to-hong-kong-homeowners-with-other-banks-set-to-follow-suit\/","url_meta":{"origin":98631,"position":0},"title":"HSBC raises mortgage rate, dealing a blow to Hong Kong homeowners, with other banks set to follow suit","date":"August 18, 2022","format":false,"excerpt":"\r HSBC\u2019s move means someone taking on a HK$5 million (US$637,385) mortgage over a 30-year period at a rate of Hibor+1.3 per cent, will pay an extra HK$1,324 a month, according to mReferral.\r \r Source : South China Morning Post\r Read more...HSBC raises mortgage rate, dealing a blow to Hong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83845,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hsbc-ends-fixed-rate-mortgage-in-hong-kong-a-week-after-feds-rate-rise\/","url_meta":{"origin":98631,"position":1},"title":"HSBC ends fixed-rate mortgage in Hong Kong a week after Fed\u2019s rate rise","date":"March 27, 2018","format":false,"excerpt":"\r HSBC, Hong Kong\u2019s biggest lender, will stop offering its fixed-rate mortgage plan on Thursday, a week after the US Federal Reserve raised its key interest rate by 25 basis points. The move comes at a time of fierce competition between banks in Hong Kong to attract mortgage customers. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127066,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-buyers-snap-up-70-per-cent-of-new-homes-on-offer-casting-aside-hkmas-75-point-interest-hike-as-banks-deferred-raising-mortgage-rates\/","url_meta":{"origin":98631,"position":2},"title":"Hong Kong\u2019s buyers snap up 70 per cent of new homes on offer, casting aside HKMA\u2019s 75-point interest hike as banks deferred raising mortgage rates","date":"June 18, 2022","format":false,"excerpt":"\r HSBC, Standard Chartered, Bank of China (Hong Kong) and Hang Seng Bank kept their prime rates unchanged this week, even after the city\u2019s de facto central bank raised its base rate by 75 basis points.\r \r Source : South China Morning Post\r Read more...Hong Kong\u2019s buyers snap up 70\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111024,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-banks-raising-their-hibor-linked-mortgage-rates-take-the-heat-out-of-hong-kongs-property-market-probably-not\/","url_meta":{"origin":98631,"position":3},"title":"Will banks raising their Hibor-linked mortgage rates take the heat out of Hong Kong\u2019s property market? Probably not","date":"September 24, 2019","format":false,"excerpt":"\r Four of Hong Kong\u2019s biggest commercial banks have raised their mortgage rates, following this month\u2019s move by HSBC to tighten Hibor caps and drastically cut cash rebates as lingering economic concerns lead to more prudent risk measures.According to local media reports, HSBC raised its Hibor-linked mortgage cap by 25\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":172586,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-property-market-gets-reprieve-on-rates-but-position-remains-precarious\/","url_meta":{"origin":98631,"position":4},"title":"Hong Kong property market gets reprieve on rates, but position remains precarious","date":"September 17, 2026","format":false,"excerpt":"\r Hong Kong\u2019s property market dodged an immediate hit from the Federal Reserve\u2019s rate hike on Thursday as major local banks kept their prime rates unchanged, but another increase could puncture the market\u2019s relatively fragile recovery, according to industry insiders. The Fed raised its benchmark rate by a quarter point\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119239,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-banks-lose-appetite-for-prime-space-in-worlds-costliest-city-as-work-from-home-becomes-permanent-post-covid\/","url_meta":{"origin":98631,"position":5},"title":"Hong Kong banks lose appetite for prime space in world\u2019s costliest city as work-from-home becomes permanent post-Covid","date":"November 13, 2020","format":false,"excerpt":"\r Demand for Hong Kong\u2019s prime office space is likely to fall as some of the city\u2019s biggest banks, including Standard Chartered and HSBC, are considering more flexible working arrangements after their success during the coronavirus pandemic, according to market observers.Financial companies are some of the biggest commercial renters in\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\/98631"}],"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=98631"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98631\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}