Residential Mortgage Survey Results for November 2005

Press Releases

28 Dec 2005

Residential Mortgage Survey Results for November 2005

According to the 23 authorized institutions (AIs) which participate in the HKMA's monthly survey of residential mortgage lending, new mortgage loans drawn down during November were little changed at HK$7.8 billion.

New loans approved by the AIs decreased by 9.4% to HK$8.7 billion with the HK$1,392 million decrease in approvals for secondary market transactions more than offsetting the increases in approvals for primary market transactions and refinancing of HK$414 million and HK$77 million respectively. The number of new applications decreased further, by 4.2%.

The proportion of new loan approvals priced at more than 2.25% and up to 2.5% below the best lending rate increased to 39.0% from 33.3% in October, and continued to be the most commonly used interest rate band for new approvals in November. The share of new approvals for fixed rate mortgages contracted markedly, to 1.0% from 8.4% in October.

The outstanding value of mortgage loans decreased by 0.3% to HK$535.2 billion.

The mortgage delinquency ratio edged down to 0.18% from 0.19% a month earlier. With the rescheduled loan ratio remaining unchanged at 0.35%, the combined ratio improved to 0.53% from 0.54% in October.

 

For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
28 December 2005

Annex

Notes to Annex

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Last revision date : 28 December 2005