Residential Mortgage Survey Results for August 2005

Press Releases

26 Sep 2005

Residential Mortgage Survey Results for August 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 August fell for the third consecutive month, by 21.5%, to HK$8.6 billion.

New loans approved by the AIs were little changed, at HK$10.0 billion, with a 7.1% increase in approvals for secondary market transactions offsetting decreases in approvals for primary market transactions and refinancing, by 7.0% and 25.5% respectively. The number of new applications increased by 10.9%.

The proportion of new loan approvals priced at more than 2.5% below the best lending rate decreased further to 6.6% compared with 17.3% in July. The proportion of new loan approvals priced at more than 2.0% and up to 2.25% below the best lending rate increased to 35.7% from 25.1%, indicating that this was the most commonly used interest rate band for new approvals in August.

The outstanding value of mortgage loans fell by 0.4% to HK$540.1 billion.

The mortgage delinquency ratio edged down to 0.19% from 0.22% a month earlier. With the rescheduled loan ratio remaining unchanged at 0.37%, the combined ratio improved to 0.56% from 0.58% in July.

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
26 September 2005

 

Annex

Notes to Annex

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Last revision date : 26 September 2005