BOC Hong Kong adjusts home loan rates higher

BOC Hong Kong (2388) raised the HIBOR-based mortgage rate, local media reported.

The bank raised the Hibor-based rate by  0.1 percent for loans below HK$6 million to Hibor plus 1.5 percent.

The cash rebate rate was cut from 0.5 percent to 0.2 percent. The capped mortgage rate is maintained at 2.5 percent.

For loans between HK$6 million and HK$20 million, the mortgage rate is Hibor-plus 1.45 percent. The cash rebate rate is 0.5-0.8 percent. As for loans above HK$20 million, the rate is Hibor plus 1.4 percent. The cash rebate rate is 1 percent.