Meridian: The October MMI report shows a 3.38% increase, with HIBOR expected to fluctuate around the 3% level before the end of the year.

mReferral Mortgage Brokerage Services' Chief Vice President, Cao Deming, stated that in October, the mReferral Mortgage Brokerage Services interest rate index (MMI) was reported at 3.38%, a slight decrease from the previous month. HIBOR is expected to continue to be influenced by year-end factors, with HIBOR likely to hover around the 3% level before the end of the year. According to the latest data from the research department of mReferral Mortgage Brokerage Services, the mReferral Mortgage Brokerage Services interest rate index (MMI) for October 2025, which reflects the actual interest rate level that new mortgage customers can generally achieve, was reported at 3.38%, a decrease of 14 basis points compared to the previous month, after three consecutive months of increase. Cao Deming mentioned that although the average one-month HIBOR was reported at 3.5% in October, Hong Kong banks had lowered the best lending rate (P) in September and October by a total of 25 basis points, reducing the top interest rate for new construction mortgages from 3.5% to 3.25%. MMI followed suit with the decrease. On November 26th, the one-month HIBOR was reported at 2.98%, increasing for 5 consecutive working days. Cao Deming stated that due to year-end factors, HIBOR is expected to continue hovering around the 3% level before the end of the year. Based on the calculation of the general new construction mortgage rate at H+1.3%, current mortgage holders may still need to provide interest at the top rate of 3.25% for purchasing property. On the other hand, the US job market continues to deteriorate, and there is a possibility that the Federal Reserve will make a "preventive" 25 basis points interest rate cut at the next meeting. The trend of Hong Kong HIBOR will depend on fund flows, and if there is further inflow of funds into Hong Kong, HIBOR may have a chance to challenge the level below 2%, allowing mortgage holders to possibly provide loans at a rate lower than the top interest rate.