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Residential Mortgage Survey Results for July 2006

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 July fell by 16.6% to HK$10.4 billion.

New loans approved by the AIs decreased by 24.5% to HK$9.7 billion. The decline was across-the-board in both number and value terms. In value terms, primary market transactions fell by HK$1.4 billion (-43.0%), secondary market transactions by HK$1.1 billion (-14.9%) and refinancing loans by HK$0.7 billion (-27.3%). The number of new applications also decreased, by 13.6%.

The most commonly used interest rate band for new approvals in July continued to be more than 2.5% below the best lending rate. It was used in 67.4% of new approvals in July compared with 70.4% in June.

The outstanding value of mortgage loans increased by 0.1% to HK$527.6 billion.

The mortgage delinquency ratio was unchanged at 0.20%. With the rescheduled loan ratio decreasing to 0.30%, the combined ratio improved to 0.50% from 0.52% in June.

Annex

For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Ying-ying Cheng, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
25 August 2006

Last revision date: 1 August 2011
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