Residential Mortgage Survey Results for December 2009

Press Releases

26 Jan 2010

Residential Mortgage Survey Results for December 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 December declined by 5.8% to HK$19.7 billion compared with November.

New loans approved fell by 6.2% to HK$24.2 billion. The decrease was broad-based. Approvals for primary market transactions declined by HK$0.1 billion or 3.1%, approvals for secondary market transactions declined by HK$0.7 billion or 4.1%, and approvals for refinancing loans declined by HK$0.8 billion or 14.6%. The number of new applications rose to 15,368 from 14,418 in November.

Around 37.4% of the new mortgage loans approved were priced with reference to best lending rates in December, 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 61.6% in December from 56.6% in November.

The outstanding value of mortgage loans increased by 0.6% to HK$640.9 billion.

The mortgage delinquency ratio and the rescheduled loan ratio fell to 0.03% and 0.09% respectively in December.

Annex

For further enquiries, please contact:
Hing-fung Wong, Manager (Communications), at 2878 1802 or
Yokee Wong, Manager (Communications), at 2878 1213

Hong Kong Monetary Authority
26 January 2010

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Last revision date : 26 January 2010