Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Zeti Akhtar Aziz
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Carmen Chu
Alan Au
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
515.5995

Press Releases

Residential Mortgage Survey Results for April 1997

New mortgage lending rose sharply in April according to the results of the latest monthly survey conducted by the Hong Kong Monetary Authority (HKMA).

Gross new loans made during the month increased by 35.2% to a record high of $22.7 billion, compared with a drop of 10.6% in March. The average size of new loans also increased to $1.77 million compared with $1.74 million in March.

The amount of outstanding mortgage loans also rose rapidly by 2.4% in April, compared with a 1.6% increase in March.

The average rate of growth of outstanding loans in the three months to April decreased to 29.4% (annualized) from 30.1% in the three months to March. But the average change over the last twelve months increased from 22.0% in March to 23.1% in April.

New loans approved during the month also rose sharply by 36.4% to $28.8 billion, reflecting the large scale of market activity in March. Loans approved during the month but not yet drawn increased by 22.4% from $14.1 billion in March to $17.3 billion in April.

"The rapid growth of new mortgage lending in April was a result of the active property market in March. Market activity slowed in April itself. However, loan growth seems likely to continue at a rapid pace in May because of the amount of undrawn loan commitments still in the pipeline," said Mr David Carse, Deputy Chief Executive of the HKMA.

Mr Carse added, "The current growth of mortgage lending is historically high and this is resulting in an increase in banks' property exposure. Additional restraint in lending policies may therefore be required."

Price cutting on mortgages further intensified in April. Of new loans approved during April, 55.4% had a margin of up to 0.25% above best lending rate, compared with 53.3% in March while loans granted at the prime rate increased significantly from 0.8% to 14.4%. The latter was associated with the financing of new properties offered for sale in March.

Gross new loans for the purchase of properties in China increased to $238 million in April from $195 million in March. The amount of outstanding loans increased by 0.56% to $6.6 billion.

 

 

Residential Mortgage Survey Results for April 1997

33 Authorised Institutions

Apr-97
HK$m

Mar-97
HK$m

1. Gross new loans made during month    
  1. Amount of new loans
  2. Monthly change in amount
  3. Number of new loans
  4. Average size of new loans
22,713

35.2%

12,837

1.77
16,797

-10.6%

9,659

1.74
2. New loans approved during month    
  1. Amount of approvals
  2. Monthly change in approvals
  3. Number of approvals
  4. Average size of approvals
  1. 28,763
  2. 36.4%
  3. 15,238
  4. 1.89
  1. 21,093
  2. 17.0%
  3. 11,723
  4. 1.80
By Property age
   
Property age - 15 years or below
 

- amount
- number

23,992
11,968
17,221
9,132

Property age - above 15 years

   

- amount
- number

4,771
3,270
3,872
2,591
Associated with co-financing schemes
   
- amount
- number
634
184
505
212
3. New loans approved during month but not yet drawn    
  1. Amount of approvals
  2. Number of approvals
17,318

8,927
14,144

7,737
4. Amount of outstanding loans    
  1. Amount of loans
  2. Monthly change in loans
  3. Twelve-month change in loans
  4. Average monthly changes over

    last three months (annualized)
    last twelve months (annualized)

    Associated with co-financing schemes
    - amount
    - number

  1. 361,879
  2. 2.4%
  3. 22.7%

  4. 29.4%
    23.1%

     
    13,381
    6,938

  1. 353,377
  2. 1.6%
  3. 21.8%

  4. 30.1%
    22.0%

     
    13,865
    7,227

5. Interest margin on new loans approved during month    
  1. More than 0% and up to 0.25% above BLR
  2. More than 0.25% and up to 0.5% above BLR
  3. More than 0.5% and up to 0.75% above BLR
  4. At BLR
  5. Others
55.4%

16.9%

5.6%

14.4%

7.7%
53.3%

27.8%

7.5%

0.8%

10.6%



 


RESIDENTIAL MORTGAGE LOANS IN HONG KONG
(33 institutions)

 


GROSS NEW LOANS MADE DURING THE MONTH

0526a1

0526a2

 


NEW LOANS APPROVED DURING MONTH

0526b1

NEW LOANS APPROVED BUT NOT YET DRAWN

0526b2

 




0526c1

Remarks: The significant fall of outstanding balance in December 1994 was due to the effect of reclassification, securitization and sale of loans by some institutions.


0526c2

0526c3

Hong Kong Monetary Authority
26 May 1997

Last revision date: 1 August 2011
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Information in Other Languages (Bahasa Indonesia, हिन्दी, नेपाली, ਪੰਜਾਬੀ, Tagalog, ไทย, اردو)
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery