The channels, which have been declining for 8 consecutive months, are expected to see further downward adjustments, with the latest MMI report at 3.52%.

According to the latest data from the research department of the Mortgage Corporation, the Mortgage Corporation's interest rate index (MMI) in January 2025, which reflects the actual interest rate that new mortgage customers can generally achieve, fell 10 basis points to 3.52% month-on-month, falling for 8 consecutive months and hitting a 20-month low. Chief Executive Officer of Mortgage Corporation, Mr. David Chiu, said that the current interest rates of H and P offered by most banks are as low as 3.5%, leading to a gradual decline in MMI to a 20-month low. Chiu further stated that the US Consumer Price Index (CPI) in January was 3%, up for 4 consecutive months, returning to the level in the middle of last year, and the core CPI was 3.3% as well, higher than expected. The latest tariffs and immigration policies of the US President bring uncertainty to the inflation trend, and he believes that the Federal Reserve will consider the inflation trend and overall economic environment to determine its pace of interest rate cuts this year, but it is likely that the Federal Reserve will continue to hold its fire at its upcoming meeting. In Hong Kong, the 1-month Hong Kong Interbank Offered Rate (HIBOR) today is 3.87%. Chiu expects the 1-month HIBOR to continue to hover around the 3.5% to 4% level. If the Federal Reserve's interest rate meeting in April holds its fire, it is expected that Hong Kong banks will follow suit and maintain the most preferred interest rate (P) unchanged. Meanwhile, a major bank has launched a fixed-rate mortgage plan with a 3-year interest rate of 3.18% and a 5-year interest rate of 3.03%, which is expected to attract some customers, and the MMI is likely to have more room for downward adjustment.