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Residential Mortgage Survey Results for April 1998

New mortgage lending declined in April 1998.

The amount of gross new loans made fell by 18.6% from $12.6 billion in March to $10.3 billion in April (compared with the 54.4% increase in March). The average size of new loans decreased to $1.90 million in April compared to $2.10 million in March.

New loans approved during the month also dropped by 30.1% to $10.2 billion ($14.6 billion in March). Loans approved during the month but not yet drawn decreased by 20.1% from $8.1 billion in March to $6.4 billion in April.

The amount of outstanding mortgage loans increased by 0.73% in April, compared with 1.43% growth in March. The annualised rate of growth of outstanding loans in the three months to April increased to 11.9% from 11.7% in March. The average change over the last twelve months decreased to 21.4% from 23.3% in March.

On the pricing front, the percentage of new loans priced at more than 1% above best lending rate dropped from 64.4% to 58.8% in April, indicating some easing in lending terms.

"In view of the low level of undrawn lending commitments in April and the current market conditions, loan growth is expected to remain subdued in May," said Mr. David Carse, Deputy Chief Executive of the HKMA.

Gross loans for the purchase of properties in Mainland China decreased to $122 million in April from $169 million in March. The amount of outstanding loans decreased marginally by 0.16% to $8.0 billion.

Hong Kong Monetary Authority

27 May 1998

 

Residential Mortgage Survey Results for April 1998

33 Authorised Institutions Apr-98
HK$m
Mar-98
HK$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. 10,275
  2. -18.6%
  3. 5,395
  4. 1.90
 

  1. 12,627
  2. 54.4%
  3. 6,012
  4. 2.10
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. 10,222
  2. -30.1%
  3. 5,713
  4. 1.79



    8,622
    4,619

    1,600
    1,094
     
    1,060
    527

 

  1. 14,630
  2. 55.3%
  3. 6,837
  4. 2.14



    12,542
    5,495

    2,088
    1,342
     
    1,224
    414

3. New loans approved during month but not yet drawn

  1. Amount of approvals
  2. Number of approvals
 

  1. 6,440
  2. 3,445
 

  1. 8,057
  2. 3,703
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. 439,284
  2. 0.73%*
  3. 22.0%*

  4. 11.9%*
    21.4%*

     
    17,979
    8,220

 

  1. 436,433
  2. 1.43%
  3. 24.0%

  4. 11.7%
    23.3%

     
    17,282
    7,932

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. 0.3%
  2. 4.4%
  3. 0.6%
  4. 4.4%
  5. 18.3%
  6. 58.8%
  7. 13.2%
 

  1. 0.4%
  2. 5.4%
  3. 0.7%
  4. 6.4%
  5. 12.4%
  6. 64.4%
  7. 10.3%


* Adjusted for the effect of sale of mortgage loans to HKMC by an institution amounting to $341 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: 1 August 2011
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