I currently have a mortgage with the rate of the monthly HIBOR plus 0.5% or P-3%. Recently the monthly HIBOR has been very low so I have been paying an interest rate of around 1.5%. I remember when I got the mortgage I had the option of choosing a HIBOR rate for different periods - 3,6 or 12 months I think. My question - how can I find the HIBOR rates for those periods, and do posters here think it would be a good idea to switch to a longer period - first time the fee is waived, the second time pay 0.2% of mortgage balance of HK$2000 whichever is higher.
Thanks for any insight.