Residential Mortgage Survey Results for June 2005

Press Releases

25 Jul 2005

Residential Mortgage Survey Results for June 2005

According to the 24 authorized institutions (AIs) which participate in the HKMA's monthly survey of residential mortgage lending, new mortgage loans drawn down during June decreased by 8.5% to HK$16.7 billion, the first decline in five months.

New loans approved by the AIs also decreased, by 12.6%, to HK$14.8 billion. The decline was due to the reduction in approvals for secondary market transactions and refinancing loans by 15.6% and 14.1% respectively. By contrast, approvals for primary market transactions increased by 10.6%. The number of new applications reduced by 11.7%.

The proportion of new loan approvals priced at more than 2.5% below the best lending rate decreased further to 40.4% from 52.2% in May.

The outstanding value of mortgage loans rose by 0.6% to HK$543.3 billion.

The mortgage delinquency ratio improved further to 0.22% from 0.24% in May. With the rescheduled loan ratio edging down to 0.38% from 0.40%, the combined ratio improved to 0.60% from 0.63% in May.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Resource Co-ordinator, at 2878 1802

Hong Kong Monetary Authority
25 July 2005

Annex

Notes to Annex

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Last revision date : 25 July 2005