Residential Mortgage Survey Results for May 2008

Press Releases

25 Jun 2008

Residential Mortgage Survey Results for May 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 May 2008 decreased by 15.3% to HK$17.2 billion.

New loans approved decreased by 11.4% to HK$21.4 billion. The decrease was distributed across all types of property transaction. Approvals for primary market transactions decreased by HK$1.9 billion or 43.5%, secondary market transactions by HK$0.1 billion or 0.6%, and refinancing loans by HK$0.8 billion or 16.5%. The number of new applications increased by 4.8%.

The proportion of new loans approved at more than 2.5% below the best lending rate slightly increased to 84.8% from 84.7% in April.

The outstanding value of mortgage loans increased by 0.8% to HK$585.6 billion.

The mortgage delinquency ratio and rescheduled loan ratio declined to 0.07% and 0.15% respectively, driving the combined ratio to a record low of 0.22%.

Annex

For further enquiries, please contact:
Thomas Chan, Senior Manager (Press), at 2878 1480 or
Peggy Lo, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
25 June 2008

Latest Press Releases
Last revision date : 25 June 2008