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

Jim Wong, Cho-hoi Hui and Laurence Fung
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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

No 509, Working Papers from 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.

Pages: 51 pages
Date: 2005-08
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http://www.info.gov.hk/hkma/eng/research/RM09-2005.pdf (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:hkg:wpaper:0509

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