Residential Mortgage Survey Results for April 2009

Press Releases

26 May 2009

Residential Mortgage Survey Results for April 2009

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 April increased by 19.3% to HK$10.6 billion compared with March.

New loans approved increased by 31.4% to HK$21.9 billion, largely driven by an increase of 41.9% or HK$4.8 billion in approvals for secondary market transactions. Approvals for primary market transactions and refinancing loans also rose by HK$0.4 billion and HK$0.05 billion respectively. The number of new applications increased to 18,455 compared with 13,261 in March.

Around 51% of the new mortgage loans approved in April were priced at more than 2.25% below the best lending rate, compared with 22% in March. The proportion of new mortgage loans priced with reference to rates other than the best lending rate (mostly HIBOR) increased slightly to 29.9% in April from 29.5% in March.

The outstanding value of mortgage loans increased by 0.4% to HK$589 billion.

Both the mortgage delinquency ratio and the rescheduled loan ratio held steady at 0.05% and 0.13% respectively in April.

Annex

For further enquiries, please contact:
Thomas Chan, Communications Chief, at 2878 1480 or
Hing-fung Wong, Manager (Communications), at 2878 1802

Hong Kong Monetary Authority
26 May 2009

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Last revision date : 26 May 2009