Major banks reduce property rebates to zero or clear them out

Amid market expectations that the United States will delay interest rate cuts, some large banks in Hong Kong have reduced mortgage cash rebates from a maximum of 3% to zero due to capital cost pressures. Mortgage intermediary Star Valley said major banks have now reduced mortgage rebates to almost zero.

Bank mortgage rebate reduced to zero

With the United States delaying interest rate cuts, Hong Kong's major banks have decided to adjust mortgage cash rebates to zero in response to capital cost pressures. This adjustment means that consumers will no longer receive the previous rebate offer of up to 3%.

A mortgage intermediary’s perspective

As a well-known mortgage intermediary, Star Valley understands this move by large banks. They pointed out that the current mortgage rebates of large banks in the market are close to zero, which also reflects the banks' response strategies when facing financing pressure.

Factors affecting consumers

For consumers, the adjustment of bank property rebates will directly affect their home purchase plans. In the past, high rebate offers attracted many buyers, but now the zero rebate policy may change their choices.

Outlook for future trends

Regarding the adjustment of rebates for bank buildings, market participants generally expect this trend to continue. As the pressure on capital costs increases, banks may further reduce rebate discounts or even move towards "zeroing out".