Meridian: Meridian Mortgage Interest Rate Index (MMI) hit a 14-month low of 3.12% in August

The Zhitong Finance App learned that according to the latest data from the Meridian Mortgage Referral Research Department, the Meridian Mortgage Interest Rate Index (MMI) reported 3.12% in August, down 5 points from month to month, a record low in 14 months, reflecting a decline in the actual mortgage level of new mortgage customers in the market. Cao Deming, chief vice president of Meridian Mortgage Referral, said that in August, 30% of customers chose the 2.73% fixed rate mortgage plan of large banks, causing MMI to fall to a low level of more than a year.

Cao Xu pointed out that the US core CPI increased by 0.3% month-on-month in August, higher than market expectations. Coupled with the addition of 162,000 new non-farm payrolls, far higher than market expectations, the market expected a significant increase in the voice of the Fed's interest rate hike this week. Cao said that even if the Federal Reserve starts raising interest rates early this week, the estimates are only defensive. The Bank of Hong Kong may not follow in real time, or will only slightly raise the Best Preferential Interest Rate (P) by 0.125%, which is not expected to have much impact on the housing market.

In addition, the one-month HIBOR report was 2.89% on Monday (14th). Cao said that if the US raises interest rates during the year, HIBOR will challenge the level of 3% or more, and generally, newly built H will also remain at the peak level according to actual interest rates. Currently, only one major bank has renewed its interest rate mortgage plan until the end of this year. Although the interest rate was raised from 2.73% to 2.93%, it is still 32 pips lower than the current H limit. As expectations of interest rate hikes heat up and there is no room for a sharp decline in interest rates in the short term, it is expected that some customers will still choose fixed plans.