Will be the last time of Prime Rate Up???

The United States Federal Reserve raised interest rates by 0.75% to a range of 3.25% to 4% on 3 November 2022. HSBC officially raised interest rates and raised Prime Rate (P) to 5.325% According to the bank's new second-hand prime rate mortgage (P mortgage), the actual mortgage interest rate will increase to 2.975%. Based on the current average property price of HK$5 to 6 million, the monthly mortgage payment is calculated for every 5 million loan. The payment will increase by HK$644, and the full-term interest will increase by HK$193,000.

Its new and old mortgage customers, regardless of HIBOR mortgages (H mortgages) and P mortgages, will be affected.

According to the pattern on 2018/2019, the residential price was back to up trend after 5 months of P at 5.375%,

I hope this time to be last time of prime rate up, it would mean vibration of residential price to be stopped and get well soon.