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 February 1998

The rate of decline of new mortgage lending moderated further in February 1998, while loan approvals continued to increase.

Gross new loans made during the month continued to drop in February, though at a slower rate than in January. The amount of new loans made fell by 1.5% from $8.3 billion to $8.2 billion (compared with a fall of 15.0% in January). The average size of new loans increased slightly to $1.99 million in February compared to $1.95 million in January. The amount of outstanding mortgage loans increased by 0.72% in February, compared with 0.69% growth in January.

New loans approved during the month rose by 2.7% to $9.4 billion. Loans approved during the month but not yet drawn increased by 5.1% from $6.0 billion in January to $6.3 billion in February.

The annualised rate of growth of outstanding loans in the three months to February decreased to 7.5% from 9.6% in January. The average change over the last twelve months also decreased to 23.6% from 25.9% in January.

On the pricing front, mortgage rates continued to harden in February. 72% of new loans were priced at 1% or more above best lending rate (compared with 62% in January).

"Although loan approvals rose in February, they are still running at a comparatively low level. Loan growth is therefore expected to remain moderate," said Mr. David Carse, Deputy Chief Executive of the HKMA.

Gross loans for the purchase of properties in Mainland China decreased to $113 million in February from $262 million in January. The amount of outstanding loans decreased marginally by 0.06% to $8.0 billion.

Hong Kong Monetary Authority

25 March 1998

 

Residential Mortgage Survey Results for February 1998

33 Authorised Institutions

Feb-98
HK$m

Jan-98
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
 

  1. 8,178
  2. -1.5%
  3. 4,104
  4. 1.99
 

  1. 8,305
  2. -15.0%
  3. 4,267
  4. 1.95
2. New loans approved during month

  1. Amount of approvals
  2. Monthly change in approvals
  3. Number of approvals
  4. Average size of approvals

    By Property age

    Property age - 15 years or below
    - amount
    - number
    Property age - above 15 years
    - amount
    - number
    Associated with co-financing schemes
    - amount
    - number

 

  1. 9,422
  2. 2.7%
  3. 4,738
  4. 1.99



    8,261
    3,962

    1,161
    776
     
    1,013
    393

 

  1. 9,174
  2. 9.3%
  3. 4,445
  4. 2.06



    7,838
    3,583

    1,336
    862
     
    900
    303

3. New loans approved during month but not yet drawn

  1. Amount of approvals
  2. Number of approvals
 

  1. 6,290
  2. 3,023
 

  1. 5,986
  2. 2,679
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. 430,975
  2. 0.72% *
  3. 24.2% *

  4. 7.5% *
    23.6% *

     
    15,936
    7,478

 

  1. 428,385
  2. 0.69%
  3. 26.6%

  4. 9.6%
    25.9%

     
    15,514
    7,404

5. Interest margin on new loans approved during month

  1. At BLR
  2. More than 0% and up to 0.25% above BLR
  3. More than 0.25% and up to 0.5% above BLR
  4. More than 0.5% and up to 0.75% above BLR
  5. More than 0.75% and up to 1% above BLR
  6. More than 1% above BLR
  7. Others
 

  1. 0.7%
  2. 5.1%
  3. 1.2%
  4. 6.7%
  5. 17.0%
  6. 55.3%
  7. 14.0%
 

  1. 0.7%
  2. 8.5%
  3. 1.9%
  4. 16.6%
  5. 37.2%
  6. 25.1%
  7. 10.0%


* Adjusted for the effect of sale of mortgage loans to HKMC by an institution amounting to $487 million

 

RESIDENTIAL MORTGAGE LOANS IN HONG KONG
(33 institutions)

 

GROSS NEW LOANS MADE DURING THE MONTH

 

NEW LOANS APPROVED DURING MONTH

NEW LOANS APPROVED BUT NOT YET DRAWN

 

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.

Last revision date: 7 September 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