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Press Releases

Residential Mortgage Survey Results for January 2008

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 January 2008 increased by 10.5% to HK$23.6 billion.

New loans approved increased by 29.2% to HK$29.4 billion. The increase was due to increases in approvals for all types of property transaction. Approvals for primary market transactions increased by HK$0.9 billion or 52.7%, secondary market transactions by HK$5.0 billion or 27.0%, and refinancing loans by HK$0.7 billion or 28.9%. The number of new applications also increased by 39.2%.

The proportion of new loans approved at more than 2.5% below the best lending rate increased to 90.6% from 87.9% in December 2007, as the proportion of new approvals for HIBOR-based loans1 decreased.

The outstanding value of mortgage loans increased by 1.4% to HK$565.4 billion.

The mortgage delinquency ratio and rescheduled loan ratio declined to 0.09% and 0.19% respectively in January. The combined ratio fell to a record low of 0.28%.

Annex

For further enquiries, please contact:
Peggy Lo, Manager (Press), at 2878 1687 or
Hing-fung Wong, Officer (Press), at 2878 1802

Hong Kong Monetary Authority
26 February 2008

1 Mortgage loans priced with reference to Hong Kong Interbank Offered Rates.

Last revision date: 1 August 2011
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