In the first half of the year, "Hong Kong Property" reported that HIBOR fluctuated in the range of 2 to 3 cents, and H's interest rate is expected to remain at 3.25 cents in the short term

The Federal Reserve recently announced that the benchmark interest rate will remain in the range of 3.5% to 3.75%. HSBC also announced today (29th) that it will keep the prime rate unchanged at 5%. Cao Deming, Chief Vice President of Jingle Mortgage Referral, stated that although interest rates in Hong Kong and the United States have not decreased, the current new mortgage interest rates are still at reasonable and affordable levels. Additionally, property prices and transactions have stabilized, leading to an increase in public confidence in home ownership. It is expected that the property market will continue to see both price and volume rise this year.

He pointed out that although there is still at least one opportunity for a rate cut by the Federal Reserve in the first half of the year, the current surplus in the Hong Kong banking system remains at about HKD 53.8 billion, and the room for a decline in the Hong Kong Interbank Offered Rate (HIBOR) is relatively limited. It is expected that HIBOR will generally hover around 2% to 3% in the first half of the year, and homeowners with H mortgages will still need to pay a capped interest rate of 3.25% in the short term. Unless there is a significant inflow of funds into the Hong Kong banking system that causes HIBOR to drop below 1.95%, the actual mortgage interest rates and monthly mortgage payments can further decrease.

He also mentioned that recently, some banks have become more positive towards mortgage business, actively seeking to capture mortgage business in the first half of the year, including raising relevant discounts and mortgage rebates to attract quality customers. It is anticipated that the mortgage market will trend upwards along with the stabilization of the property market this year