Residential Mortgage Survey Results for November 2009

Press Releases

29 Dec 2009

Residential Mortgage Survey Results for November 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 November declined by 1.2% to HK$20.9 billion compared with October.

New loans approved fell by 11.1% to HK$25.8 billion. The decrease was due to reduction of HK$3.5 billion or 16.7% in secondary market transactions and of HK$0.3 billion or 4.6% in approvals for refinancing loans. By contrast, approvals for primary market transactions increased by HK$0.5 billion or 20.1%. The number of new applications dropped to 14,418 compared with 16,461 in October.

Around 41% of the new mortgage loans approved was priced with reference to best lending rates in November, the majority of which were in the price range of 2% to less than 2.25%. The proportion of new mortgage loans priced with reference to HIBOR rose to 56.6% in November from 53.8% in October.

The outstanding value of mortgage loans increased by 0.9% to HK$637.0 billion.

Both the mortgage delinquency ratio and the rescheduled loan ratio remained unchanged at 0.04% and 0.10% respectively in November.

Annex

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

Hong Kong Monetary Authority
29 December 2009

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Last revision date : 29 December 2009