Meridians: The meridian mortgage interest rate index for March was reported at 3.21%, hitting an 8-month low.

According to the latest data from the mReferral Mortgage Brokerage Services Referral Research Department, the mReferral Mortgage Brokerage Services Interest Rate Index (MMI) for March 2026, which reflects the actual interest level that new mortgage customers can generally achieve, is reported at 3.21%, a slight decrease of 2 basis points from the previous month, marking a two-month decline and hitting an 8-month low. mReferral Mortgage Brokerage Services Referral's Chief Vice President Cho Tak Ming stated that the proportion of customers choosing the 2.73% fixed interest mortgage plan from larger banks increased in March, leading to a slight decline in the MMI for the month. Currently, there are no signs of accelerated deterioration in the US labor market and unemployment rate, and due to geopolitical issues, Cho Tak Ming expects the Federal Reserve to maintain a wait-and-see approach at this week's monetary policy meeting. In Hong Kong, the one-month Hong Kong Interbank Offered Rate (HIBOR) is reported at 2.46% today, and the HIBOR trend will depend on US interest rates and fund flows. It is predicted that the HIBOR will continue to fluctuate between 2% and 3%, and the actual interest rates for new mortgages will remain around 3.25%. Only if funds flow back into Hong Kong, will there be a chance for the HIBOR to challenge levels below 2%. Cho further mentioned that the geopolitical situation remains uncertain, and the trend of interest rates is still to be observed due to uncertainties. In the short term, it is still difficult for the actual interest rates for new mortgages to fall below the upper limit. However, three major banks have already introduced low-interest fixed-rate mortgage plans, with the interest fixed at 2.73% for the first three years, which is 52 basis points lower than the current typical new prime and home mortgage plans at 3.25%. This can lead to immediate savings in interest expenses, and it is expected that there will be a certain number of customers opting for this plan, including some individuals with non-fixed income or long-term investors. It is anticipated that there is still room for the MMI to decline.