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<HK Home>Major HK Banks Reportedly Raise Large Mortgage Cash Rebates to 1%; Centaline Mortgage Sees Further Upside
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Major local banks recently increased mortgage cash rebates to as high as 1%, according to hearsay. Ivy Wong, Managing Director of Centaline Mortgage, stated that major banks successively raised cash rebates in recent months, reversing the situation where small and medium-sized banks offered higher rebates than major banks last year. At this juncture, the rebate offers provided by major banks to mortgage customers have caught up with or even surpassed some small and medium-sized banks, further enhancing the attractiveness of major bank mortgages, Wong noted. The beginning of the year is usually the period when banks are most aggressive in mortgage lending. Coupled with the property market stabilizing and entering an upward trajectory, smooth property transactions greatly shored up banks' confidence in mortgage business, prompting banks to be more proactive in achieving their mortgage business goals to increase competitiveness and attract customers at the start of the year. Regarding future rebate trends, Wong analyzed that in the past, such as in 2023, the peak point of bank mortgage cash rebates reached 2-3%. Currently, the rebate level generally ranges from 0.3% to as high as 1%, which is still some distance from the peak point, so there is still room for increment as banks become more aggressive in mortgage lending. AASTOCKS Financial New Website: www.aastocks.com |
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