Homeowners to feel the pain as Hong Kong banks across the board raise mortgage rates

The era of cheap mortgage rates in Hong Kong is truly over.
After Citibank increased its mortgage rates by 10 basis points on Tuesday – for the first time in more than a decade – Hang Seng Bank, HSBC and Bank of China (Hong Kong), Standard Chartered, and Bank of East Asia, said in separate statements late on Wednesday night that they would also be raising their mortgage rates from August 13.

Wing Lung Bank and China Construction Bank (Asia), however, said their increase would be…

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