Hibor rises across the board, mortgage-tied one-month rate hits three-month high

The Hong Kong interbank offered rates rose across the board on Monday, with the mortgage-linked one-month rate jumping above 2 percent for the first time in over three months.

It rose 56 basis points to 2.014 percent in its fourth consecutive day of rise. This means the interest rate of most mortgage plans in the market has increased to 3.3 percent, though it is still below the capped rate of 3.5 percent. 

The three-month Hibor also rose 32 basis points to a three-month high of 2.183 percent. The overnight rate surged by nearly 120 basis points to 1.968 percent, while the one-week and two-week rates also increased. 

STAFF REPORTER