HSBC Rolls Out Cheaper Fixed-Rate Mortgage Plan Amid Hopes for Fed Rate Cut in September

HSBC has rolled out a fixed-rate mortgage plan with a 2.73% annual interest rate for either 3 or 5 years, cheaper than its previous offer and Hong Kong Mortgage Corporation's 10-year fixed rate loan. The move comes ahead of the Federal Reserve's expected interest rate cut in mid-September, with a 87.2% probability of a cut according to futures contracts. HSBC's new product aims to offer stable and low repayments for borrowers, especially in a volatile interest rate environment.