Higher mortgage rates hit sales of new homes over weekend

First-hand home sales were slack over the weekend as homebuyers adopted a "wait-and-see" stance after major banks in the city raised mortgage rates.

Some 90 new flats were sold on Saturday and Sunday, mainly at Hong Kong Ferry's Green Code project in Fanling, and The Reach in Yuen Long by Henderson Land and New World Development.

HSBC, Hang Seng and Standard Chartered raised home loan rates by 25 basis points on Wednesday. HSBC lifted its rates from a range of 2.6 to 2.9 per cent to 2.85 to 3.15 per cent.

via Business feed http://www.scmp.com/business/banking-finance/article/1193275/higher-mortgage-rates-hit-sales-new-homes-over-weekend