Residential Mortgage Survey Results for February 2011

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25 Mar 2011

Residential Mortgage Survey Results for February 2011

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for February 2011.

New mortgage loans drawn down during February dropped by 15.9% to HK$18.3 billion compared with January.

New loans approved in February rose by 8.2% to HK$30.3 billion. Approvals for primary market transactions and secondary market transactions increased by HK$0.5 billion (26.5%) and HK$2.0 billion (9.9%) respectively, while those for refinancing transactions decreased by HK$0.2 billion or 4.5%. The number of new applications decreased by 10.2% to 17,478.

Around 7% of the new mortgage loans approved in February were priced with reference to best lending rates, with the largest portion in the price range of 2% to less than 2.25%. The proportion of new mortgage loans priced with reference to HIBOR decreased slightly to 92.0% from 92.2% in January.

The outstanding value of mortgage loans increased by 1.3% to HK$755.8 billion.

Both the mortgage delinquency ratio and rescheduled loan ratio remained unchanged at 0.01% and 0.04% respectively in February.

Annex

Hong Kong Monetary Authority
25 March 2011

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Last revision date : 25 March 2011