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Hong Kong Mortgage Rate Setting ¡V An Alternative Reference Rate?

Author

Listed:
  • Jim Wong

    (Research Department, Hong Kong Monetary Authority)

  • Cho-hoi Hui

    (Research Department, Hong Kong Monetary Authority)

  • Laurence Fung

    (Research Department, Hong Kong Monetary Authority)

Abstract

The HKMA has completed a research study on the setting of mortgage rate by Authorized Institutions (AIs). The purpose of the project is to consider whether in an environment of intensive competition and, until recently, abundant liquidity in the banking system, the AIs have adequately taken into account their long term cost of funds in setting their mortgage rates. The study also compares the Best Lending Rate (BLR) with other alternative mortgage reference rates to consider which one(s) would enable AIs to better track their cost of funds in determining the interest rate for residential mortgage lending. The results are presented in this paper.

Suggested Citation

  • Jim Wong & Cho-hoi Hui & Laurence Fung, 2005. "Hong Kong Mortgage Rate Setting ¡V An Alternative Reference Rate?," Working Papers 0509, Hong Kong Monetary Authority.
    • Handle: RePEc:hkg:wpaper:0509
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    File URL: http://www.info.gov.hk/hkma/eng/research/RM09-2005.pdf
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