| 到期日 | 港元利息结算率 | | --- | --- | | 陽夜 | 2.78762 | | 1 星期 | 2.80000 | | 2 星期 | 2.87917 | | 1 个月 | 2.85774 | | 2个月 | 2.85554 | | 3个月 | 2.92595 | | 6 个月 | 3.00000 | | 12 个月 | 3.18405 | | 香港时间2025-8-20 | | --- | | 上午11时15分的结算率。 | 隔夜息报2.78762%，跌10.631基点;一周拆息升13.881基点，报2.8%，两周则升20.524基点，报 2.87917%。长息方面，六个月拆息升30.155基点，报3%，一年期则升25.012基点，报3.18405%。 智通财经APP获悉，8月20日，港元拆息几乎全线上升，而与楼按相关的一个月拆息连升6日，报 2.85774%，升28.357基点，是5月7日后最高;反映银行资金成本的三个月拆息报2.92595%，升35.107基 点，是5月7日后最高。 ...

| 香港时间2025-8-19 | | --- | | 上午11时15分的结算率。 | | 到期日 | 港元利息结算率 | | --- | --- | | 陽夜 | 2.89393 | | 1 星期 | 2.66119 | | 2 星期 | 2.67393 | | 1 个月 | 2.57417 | | 2 个月 | 2.57774 | | 3 个月 | 2.57488 | | 6个月 | 2.69845 | | 12 个月 | 2.93393 | 智通财经APP获悉，8月19日，港元拆息全线向上，与楼按相关的一个月拆息连升5日，升56.024基点， 报2.57417%，是5月7日后最高;反映银行资金成本的三个月拆息报2.57488%，升39.155基点，是5月12日 后最高。 隔夜息报2.89393%，升92.625基点，是5月6日后最高;一周拆息升81.738基点，报2.66119%，两周则升 75.25基点，报2.67393%。长息方面，六个月拆息升23.5基点，报2.69845%，一年期则升16.756基点，报 2.93393%。 ...

Core Viewpoint - The Hong Kong interbank offered rate (HIBOR) has been rising, with the one-month HIBOR reaching 2% on August 18, marking a new high since May 8, indicating a shift in the banking system's liquidity and interest rate dynamics [1][2] Group 1: Banking System and HIBOR Trends - The banking system's surplus has decreased from a high of 1,740 million HKD in May to approximately 537 million HKD, nearing levels before the Hong Kong Monetary Authority (HKMA) intervened in early May [1] - The continuous rise in HIBOR over four consecutive working days suggests a tightening liquidity environment, with the actual mortgage rate now at 3.3%, still below the market cap of 3.5% [1][2] - The significant widening of the interest rate differential between Hong Kong and the U.S. has led to increased arbitrage activities, prompting the HKMA to intervene multiple times [1] Group 2: Future Expectations and Implications - The rise in HIBOR is expected to narrow the interest rate differential between Hong Kong and the U.S., reducing the incentive for arbitrage and stabilizing the Hong Kong dollar [2] - Despite the current HIBOR being over 2% lower than U.S. rates, expectations of a potential U.S. rate cut later this year could further influence HIBOR downward, with predictions of a decrease in the best lending rate (P) and capped mortgage rates by 0.25% to 0.5% [2] - Factors such as demand for Hong Kong dollars, arbitrage activities, and seasonal influences will continue to affect HIBOR fluctuations, necessitating borrowers to choose capped mortgage plans to mitigate risks associated with rising rates [2]

Summary of Key Points Core Viewpoint - The Hong Kong interbank offered rates (HIBOR) have generally decreased, with the overnight rate reaching its lowest level since August 6, indicating a potential easing in the cost of bank funding [1][2]. Interest Rate Movements - The overnight HIBOR is reported at 0.16423%, down by 2.994 basis points [1] - The one-week HIBOR decreased by 1.518 basis points to 0.33482% [1] - The two-week HIBOR remained unchanged at 0.5% [1] - The one-month HIBOR fell to 0.90893%, a decline of 4.309 basis points, marking its lowest level since August 6 [1] - The three-month HIBOR is at 1.6%, down by 2.893 basis points [1] - The six-month HIBOR increased slightly by 0.285 basis points to 2.21464% [1] - The one-year HIBOR decreased marginally by 0.071 basis points to 2.6431% [1]

Group 1 - The Hong Kong interbank offered rates (HIBOR) have generally decreased, with the overnight rate at 0.19417%, down by 7.857 basis points, marking the lowest since August 6 [1] - The one-week HIBOR fell by 7.964 basis points to 0.35%, while the two-week rate decreased by 0.214 basis points to 0.5% [1] - The one-month HIBOR, which is relevant to mortgage rates, is reported at 0.95202%, down by 0.691 basis points, also the lowest since August 6 [1] Group 2 - The three-month HIBOR, reflecting bank funding costs, is at 1.62893%, up by 0.214 basis points [1] - The six-month HIBOR decreased by 1.107 basis points to 2.21179%, and the one-year rate fell by 1.208 basis points to 2.64381% [1][2] - The rates for two months and three months are reported at 1.32917% and 1.62893% respectively [2]

| 香港时间2025-8-8 | | --- | | 上午11时15分的结算率。 | | 到期日 | 港元利息结算率 | | --- | --- | | 陽夜 | 0.27274 | | 1 星期 | 0.42964 | | 2 星期 | 0.50214 | | 1 个月 | 0.95893 | | 2 个月 | 1.33506 | | 3个月 | 1.62679 | | 6个月 | 2.22286 | | 12 个月 | 2.65589 | 智通财经APP获悉，8月8日，港元拆息普遍下跌，而与楼按相关的一个月拆息报0.95893%，跌0.601基 点，是8月6日后最低;反映银行资金成本的三个月拆息报1.62679%，跌2.023基点。 隔夜息报0.27274%，升7.131基点，是7月30日后最高;一周拆息升4.172基点，报0.42964%，两周则跌 0.28基点，报0.50214%。长息方面，六个月拆息跌2.208基点，报2.22286%，一年期则跌0.453基点，报 2.65589%。 ...

| 到期日 | 港元利息结算率 | | --- | --- | | 陽夜 | 0.20143 | | 1 星期 | 0.38792 | | 2 星期 | 0.50494 | | 1 个月 | 0.96494 | | 2个月 | 1.35661 | | 3个月 | 1.64702 | | 6个月 | 2.24494 | | 12 个月 | 2.66042 | 智通财经APP获悉，8月7日，港元拆息普遍上升，而与楼按相关的一个月拆息报0.96494%，终止3连 跌，升8.72基点，是8月1日后最高;反映银行资金成本的三个月拆息报1.64702%，升3.095基点。 隔夜息报0.20143%，升6.405基点;一周拆息升10.405基点，报0.38792%，两周则升2.839基点，报 0.50494%。长息方面，六个月拆息升2.226基点，报2.24494%，一年期则跌1.256基点，报2.66042%。 ...

Group 1 - The overnight Hong Kong dollar interbank offered rate (HIBOR) decreased to 0.18506%, marking a drop of 23.988 basis points, the lowest since July 18 [1] - The one-week HIBOR fell by 11.542 basis points to 0.62381% [1] - The two-week HIBOR decreased by 8.066 basis points to 0.73089% [1] Group 2 - The one-month HIBOR increased by 0.119 basis points to 1.03363%, the highest since July 18 [1] - The three-month HIBOR reported at 1.6175%, a decrease of 0.429 basis points [1] - The six-month HIBOR rose by 1.768 basis points to 2.26839% [1] - The twelve-month HIBOR is at 2.80185%, with an increase of 0.072 basis points [1]

Group 1 - The Hong Kong interbank offered rates (HIBOR) have generally declined, with the overnight rate at 0.42494%, down by 5.821 basis points, marking the highest level since May 7 [1] - The one-week HIBOR decreased by 9.244 basis points to 0.73923%, while the two-week rate fell by 6.137 basis points to 0.81155% [1] - The one-month HIBOR, which is related to mortgage rates, increased by 1.101 basis points to 1.03244%, the highest since July 18 [1] Group 2 - The three-month HIBOR, reflecting bank funding costs, is reported at 1.62179%, down by 8.035 basis points, the lowest since June 24 [1] - The six-month HIBOR decreased by 13.62 basis points to 2.25071%, while the one-year rate is at 2.80113%, down by 5.411 basis points, the lowest since June 14, 2022 [1]

Core Insights - The latest Central Region Index (CRI) for May shows a rental yield of 3.54%, marking a month-on-month increase of 0.06 percentage points, the highest level since December 2011 [1] - The Hong Kong property market is experiencing a recovery, with increased buyer interest, although second-hand property prices remain constrained due to low promotional prices for new developments [1] - The rental market is active, entering a seasonal peak, which is driving rental yields above the 3.5% level [1] Rental Yield Trends - The CRI_Mass rental yield for May is reported at 3.70%, up 0.07 percentage points month-on-month, while the CRI for small units is at 3.66%, also up 0.07 percentage points [2] - The CRI for large units stands at 2.89%, reflecting a month-on-month increase of 0.02 percentage points, returning to levels seen in February 2012 [2] - In Kowloon, the CRI_Mass yield is 3.73%, up 0.13 percentage points, the second highest since November 2011 [2] Regional Performance - The rental yield in Hong Kong Island for CRI_Mass is 3.67%, up 0.11 percentage points, reaching a 14-year high since November 2010 [2] - New Territories West CRI_Mass yield remains stable at 3.73%, while New Territories East shows a slight decline to 3.63%, down 0.02 percentage points [2] - Among 143 surveyed estates, 133 have rental yields exceeding the H mortgage rate of 2.77%, indicating over 90% of estates are yielding more than rental costs [2] Notable Estates - Estates with rental yields above 4% include: 嘉辉花园 (5.41%), 得宝花园 (5.04%), 南丰新村 (4.96%), 美景花园 (4.57%), and 华景山庄 (4.57%) [2] - Other notable estates include 杏花村 (3.76%), 太古城 (3.51%), and 美孚新村 (4.37%) [3]