I'm LongbridgeAI, I can summarize articles.The Chief Vice President of Mortgage Referral, Cao Deming, stated that the latest Consumer Price Index (CPI) in the United States for November reported 2.7%. Although it rose slightly by 0.1% month-on-month, the core CPI remained at 3.3%, which is still in line with expectations. Additionally, the unemployment rate in the United States rose to 4.2%, higher than the market expectation of 4.1%. It is anticipated that the Federal Reserve still has the conditions to cut interest rates by another 0.25% this week, totaling a 1% reduction for the year. In Hong Kong, banks will also adjust their best lending rates based on the economic environment and their own business strategies, and they do not rule out following the U.S. in making slight adjustments. The Mortgage Market Index (MMI) is expected to have further room for decline, which will have a positive effect on the mortgage market. According to the latest data from the Mortgage Referral Research Department, the MMI for November 2024, which reflects the actual interest rate level that new mortgage customers can generally achieve, is reported at 3.78%, a decrease of 12 basis points month-on-month, marking a decline for six consecutive months and reaching a 14-month low. Cao Deming further indicated that the average one-month Hong Kong Interbank Offered Rate (HIBOR) for November was reported at 4.14%, causing the actual interest rate for H mortgages to continue to hit the ceiling. However, in November, Hong Kong banks again lowered the best lending rate (P) by 0.25%, leading to a continued decline in the MMI for November, reaching a new low in over a year
According to the Zhitong Finance APP, Cao Deming, Chief Vice President of Jingluo Mortgage Referral, stated that the latest Consumer Price Index (CPI) in the United States for November reported 2.7%. Although it rose slightly by 0.1% month-on-month, the core CPI remained at 3.3%, which is still in line with expectations. In addition, the unemployment rate in the United States rose to 4.2%, higher than the market expectation of 4.1%. It is expected that the Federal Reserve still has the conditions to cut interest rates by 0.25% again this week, totaling a 1% reduction for the year. In Hong Kong, banks will also adjust their best lending rates based on the economic environment and their own business strategies, not ruling out following the U.S. in making slight adjustments to the best lending rate, and it is expected that the MMI still has room to decline, which will have a positive effect on the mortgage market.
According to the latest data from the research department of Jingluo Mortgage Referral, the Mortgage Rate Index (MMI) for November 2024, which reflects the actual interest rate level that new mortgage customers can generally achieve, is currently reported at 3.78%, a decrease of 12 basis points month-on-month, marking a decline for six consecutive months and reaching a new low in 14 months. Cao Deming further pointed out that the average one-month Hong Kong Interbank Offered Rate (HIBOR) in November was reported at 4.14%, causing the actual interest rate for H mortgages to continue to hit the ceiling. However, in November, Hong Kong banks again lowered the best lending rate (P) by 0.25%, leading to a continued decline in the MMI for November, reaching a new low in over a year