Bank of Hong Kong launches new mortgage "zero" rebate

According to the latest reports, Hong Kong banks have recently announced that they will reduce mortgage cash rebates to zero, including major banks such as HSBC, Hang Seng and BOC Hong Kong. This move reflects the continued high cost of bank funds, which has kept interbank interest rates higher than mortgage rates for nearly a year.

HSBC, the leader among Hong Kong banks, has attracted market attention for its decision to cut mortgage cash rebates to zero. Other major banks such as Hang Seng and Bank of China Hong Kong have also followed suit, and the move to adjust the cash rebate to zero has also caused widespread discussion in the industry.

For consumers, this means they will no longer be able to receive the benefit of cash rebates on their mortgages. This is undoubtedly a big blow to buyers who have been relying on mortgage cash rebates to ease their burdens.

However, from a bank's perspective, this is also due to cost of capital considerations. As the market environment changes, banks need to adjust their business strategies to cope with the changing financial market.

In general, the Bank of Hong Kong's initiative to provide "zero" rebates for new mortgages will have a certain impact on the market, and both consumers and banks need to take measures to deal with possible challenges in the future.