经络：2025年11月MMI报3.31% 创3个月新低

Core Viewpoint - The Mortgage Market Index (MMI) for November 2025 shows a decline to 3.31%, marking a 7 basis points drop month-on-month and reaching a three-month low, indicating a trend of decreasing mortgage rates in Hong Kong [1] Group 1: Mortgage Rates - The MMI reflects the actual interest rates that new mortgage customers can achieve, which has decreased for two consecutive months [1] - The new capped interest rate for H mortgages has fallen to 3.25% following adjustments in the best lending rates by banks in September and October of the previous year [1] Group 2: Economic Indicators - The one-month HIBOR is reported at 2.98%, with expectations that the Federal Reserve may implement preventive rate cuts in the first half of the year due to greater risks of weakening employment than rising inflation [1] - HIBOR's trajectory will depend on U.S. interest rates and capital flows, with predictions that it will fluctuate between 2-3% in the first half of the year [1] Group 3: Future Projections - If there is further capital inflow into Hong Kong, HIBOR may challenge levels below 2%, potentially allowing H mortgage owners to secure loans at rates lower than the capped interest rate, which could lead to further adjustments in the MMI [1]