Residential Mortgage Survey Results for July 2016

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for July 2016.

The number of mortgage applications in July increased month-on-month by 4.4% to 10,281.  

Mortgage loans approved in July increased by 2.7% compared with June to HK$22.9 billion.  Among these, mortgage loans financing primary market transactions decreased by 1.4% to HK$4.6 billion and those financing secondary market transactions increased by 5.2% to HK$13.3 billion.  Mortgage loans for refinancing increased by 0.1% to HK$5 billion. 

Mortgage loans drawn down during July decreased by 11.1% compared with June to HK$15.8 billion. 

The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.9% in June to 3.8% in July, with the majority priced within the range of 2% and 2.25%. The ratio of new mortgage loans priced with reference to HIBOR increased from 89.8% in June to 92.6% in July.  The ratio of mortgage loans priced at fixed rates decreased from 3.9% in June to 2.2% in July.

The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,086.4 billion at end-July. 

The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 August 2016