According to the latest data from a mortgage referral research department, the Mortgage Rate Index (MMI) for March 2026, which reflects the actual mortgage rate level generally available to new customers, registered at 3.21%. This represents a slight decrease of 2 basis points month-on-month, marking the second consecutive month of decline and hitting a new low in eight months. A senior vice president at the mortgage referral company noted that the proportion of customers opting for large banks' fixed-rate mortgage plans at 2.73% increased in March, contributing to the slight drop in the MMI. With no signs of accelerated deterioration in the U.S. labor market and unemployment rate, coupled with geopolitical concerns, it is anticipated that the Federal Reserve will maintain interest rates unchanged during this week's policy meeting. In Hong Kong, the one-month HIBOR was reported at 2.46% today. The trend of HIBOR will depend on U.S. interest rates and capital flows, and it is expected to fluctuate between 2% and 3%. The actual interest rate for new H-linked mortgages is likely to remain around 3.25%. A sustained inflow of funds into Hong Kong would be necessary for HIBOR to potentially test levels below 2%. The executive added that geopolitical tensions remain uncertain, and interest rate trends are subject to observation amid these factors. The actual interest rates for new H-linked mortgages are unlikely to fall below the cap in the short term. However, three major banks have already introduced low-interest fixed-rate mortgage plans, offering a fixed rate of 2.73% for the first three years. This rate is 52 basis points lower than the current 3.25% for new prime rate and H-linked mortgage plans, providing immediate interest savings. It is expected that these plans will continue to attract certain customers, including those with non-fixed incomes or long-term investors, suggesting that the MMI may have further room to decline.