Residential Mortgage Survey Results for January 2013
The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for January 2013.
Mortgage loans drawn down during January 2013 decreased by 15.9% compared with December 2012 to HK$15.9 billion.
Mortgage loans approved in January 2013 increased by 39.9% compared with December 2012 to HK$21.2 billion. Among these, mortgage loans financing primary market transactions increased by 6.7% to HK$3.3 billion and those financing secondary market transactions increased by 55.0% to HK$14.7 billion. Mortgage loans for refinancing increased by 24.4% to HK$3.3 billion.
The number of mortgage applications in January 2013 increased by 60.2% month-on-month to 11,932.
New mortgage loans priced with reference to best lending rates decreased slightly from 90.4% in December 2012 to 90.3% in January 2013, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 7.7% in December 2012 to 7.4% in January 2013.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$873.7 billion at end-January 2013.
The mortgage delinquency ratio decreased slightly from 0.02% in December 2012 to 0.01% in January 2013. The rescheduled loan ratio remained unchanged at 0.01%.
Hong Kong Monetary Authority
27 February 2013