<p>Standard Chartered Bank has launched a fixed-rate mortgage plan for the first three years, following similar plans from HSBC and Hang Seng Bank. Information shows that Standard Chartered's mortgage interest rate is fixed at 2.73%, and the subsequent interest rate will be &#34;P-2&#34;, calculated based on the bank's &#34;big P&#34; of 5.25%, which means 3.25%.</p>
<h2>In line with HSBC and Hang Seng, the interest rate is 0.52% lower than floating-rate mortgages</h2>
<p>The fixed-rate plan launched by Standard Chartered assumes a loan amount of HKD 5 million and a term of 30 years, with a monthly payment of HKD 20,359 under the fixed interest rate of 2.73%. Compared to the current general bank H mortgages and P mortgages with an interest rate of 3.25%, the monthly payment under the same conditions would be HKD 21,760, meaning that this Standard Chartered fixed-rate plan can reduce the monthly payment by HKD 1,401 or 6.4%.</p>
<p>Cao Deming, Chief Vice President of Mortgage Referral at Jingluo, analyzed that the fixed-rate mortgage plan launched by Standard Chartered has an interest rate that is 52 basis points lower than the current general new P mortgages and H mortgages at 3.25%, which can immediately save more interest expenses.</p>
<h2>Cao Deming from Jingluo: Fixed-rate can immediately save interest expenses</h2>
<p>Cao Deming further stated that due to geopolitical issues, it is expected that the U.S. Federal Reserve will remain inactive in the first half of the year, while the one-month Hong Kong Interbank Offered Rate (HIBOR) is currently reported at 2.07%, and its trend will depend on U.S. interest rates and capital flows. It is expected that HIBOR will fluctuate between 2% and 3% in the first half of the year, and the actual interest rate of general new H mortgages will remain around 3.25%, making it difficult for the actual interest rate of new H mortgages to fall below the ceiling in the short term.</p>
<p>Cao Deming stated that compared to H mortgages, fixed-rate mortgages not only can immediately save more interest expenses but also lock in the interest rate for a specified term, avoiding risks brought by future interest rate fluctuations. This has attracted some individuals with non-fixed incomes or long-term investors to choose this option, such as for rental purposes. He also mentioned that in addition to new mortgage customers, homeowners who previously chose high loan-to-value mortgages from developers can also switch to this plan to save on interest.</p>
<h2>Zhuang Jinhui from Star Valley: Switching to fixed-rate is more practical for saving interest</h2>
<p>Zhuang Jinhui, CEO of Star Valley Mortgage Referral, pointed out that Standard Chartered's fixed-rate mortgage interest rate is the same as that of the other two banks, both at 2.73%. Homeowners with a current mortgage interest rate of 3.25% should actively consider switching mortgages to save on interest, and they may also have the opportunity to enjoy green mortgage rebates. He also indicated that geopolitical factors have delayed expectations for U.S. interest rate cuts, and customers who need to apply for mortgages should not wait for interest rate cuts any longer; switching to a fixed-rate plan is more practical.</p>
<p>He believes that more and more banks are launching fixed-rate mortgages, providing homeowners with more options for switching mortgages, which will strengthen the proportion of fixed-rate mortgages in the market, and it is expected to rise to over 10%</p>

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<p>Standard Chartered launches a 3-year fixed-rate mortgage with a fixed interest rate of 2.73%, monthly payment of HKD 1,400 for a loan of HKD 5 million</p>

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Standard Chartered launches a 3-year fixed-rate mortgage with a fixed interest rate of 2.73%, monthly payment of HKD 1,400 for a loan of HKD 5 million