Residential Mortgage Survey Results for February 2006

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24 Mar 2006

Residential Mortgage Survey Results for February 2006

According to the 23 authorized institutions (AIs) which participate in the HKMA's monthly survey of residential mortgage lending, new mortgage loans drawn down during February increased by 25.4% to HK$7.5 billion, the first increase in nine months.

New loans approved by the AIs increased by 2.4% to HK$7.7 billion. The growth was due to increases of HK$137 million (+2.5%) in approvals for secondary market transactions and of HK$151 million (+19.9%) in approvals for refinancing, which more than offset the HK$110 million (-8.7%) decrease in approvals for primary market transactions. The number of new applications also increased, by 13.7%.

The proportion of new loan approvals priced at more than 2.5% below the best lending rate increased markedly to 30.2% from 8.1% in January to become the most commonly used interest rate band for new approvals in February.

The outstanding value of mortgage loans fell by 0.1% to HK$531.1 billion.

The mortgage delinquency ratio edged up to 0.20% from 0.19% a month earlier. With the rescheduled loan ratio remaining unchanged at 0.34%, the combined ratio increased to 0.54% from 0.53% in January.

For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Resource Co-ordinator, at 2878 1802

Hong Kong Monetary Authority
24 March 2006

 

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Last revision date : 24 March 2006