What is the benchmark for the annual mortgage rate?

The annual mortgage rate is generally based on the Hong Kong dollar Prime Rate or Hong Kong Interbank Offered Rate (HIBOR).

Example:
The offer offered by the bank is P-2.5%.
At that time, P was 5% (%). That is, the actual interest rate you pay every year is 5-2.5% = 2.5 (%)%.
But note that P is subject to change, plus or minus.

Note:
Interbank interest rates refer to the interest rates offered by banks in Hong Kong to each other in the Hong Kong dollar market. Because the fluctuation and frequency of interbank rates are greater than the best available rates, mortgage plans based on interbank rates should pay attention to economic and market trends.