Meridians: The latest MMI report shows a consecutive decline of 3.52% for 8 months, and it is expected that there is still room for further reduction.

According to the latest data from the mReferral Mortgage Brokerage Services Referral Research Department, the mReferral Mortgage Brokerage Services Interest Rate Index (MMI) for January 2025, which reflects the actual interest level that new mortgage customers can generally achieve, is currently at 3.52%, a decrease of 10 basis points compared to the previous month, marking the eighth consecutive month of decline and reaching a 20-month low. mReferral Mortgage Brokerage Services Referral Vice President Cao Deming stated that the current interest rates for H Loans and P Loans at banks are as low as 3.5%, leading to a gradual decline in the MMI to a 20-month low. Cao Deming further pointed out that the United States' Consumer Price Index (CPI) for January reported a 3% increase, marking a four-month consecutive rise and returning to levels seen in the middle of last year. The core CPI also reported a higher-than-expected 3.3% increase. The latest tariff and immigration policies implemented by the US president have brought uncertainty to the inflation trend, and it is believed that the Federal Reserve will carefully review the inflation trend and overall economic environment to determine the pace of interest rate cuts this year. However, it is expected that the Federal Reserve's interest rate meeting this month will continue to remain unchanged. In Hong Kong, the 1-month Hong Kong Interbank Offered Rate (HIBOR) is currently at 3.87%. Cao Deming predicts that the 1-month HIBOR will continue to fluctuate within the range of 3.5% to 4%. If the Federal Reserve remains unchanged at its April interest rate meeting, it is expected that Hong Kong banks will also maintain their prime rates unchanged. In February, some major banks introduced fixed-rate mortgage plans for 3 years and 5 years, with a fixed interest rate of 3.18% for the 3-year period and 3.03% for the 5-year period. It is believed that this will attract some customers, and there is still room for a further decrease in the MMI.