Bank of East Asia raises Hong Kong mortgage rate by 50 basis pts

Wed. October 08, 2008; Posted: 04:19 AM

HONG KONG, Oct 08, 2008 (XFN-ASIA via COMTEX) -- BKEAY | Quote | Chart | News | PowerRating -- Bank of East Asia announced that it has raised its Hong Kong mortgage rates for new borrowers by 50 basis points from today.

Following the increase, Bank of East Asia will charge an interest rate of 3.25 pct per annum for mortgage loans.

The rate hikes follow similar moves by HSBC, BOC Hong Kong and ICBC (Asia).

(1 usd = 7.8 hkd)

roby.lau@xfn.com

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