Residential Mortgage Survey Results for February 2010

Press Releases

25 Mar 2010

Residential Mortgage Survey Results for February 2010

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for February 2010.

New mortgage loans drawn down during February declined by 1.5% to HK$17.1 billion compared with January.

New loans approved declined by 10.1% to HK$26.6 billion. The decline was contributed by decreases of HK$1.5 billion or 49.1% in approvals for primary market transactions and of HK$1.6 billion or 7.2% in approvals for secondary market transactions. By contrast, approvals for refinancing loans rose slightly. The number of new applications fell to 16,398 from 19,157 in January.

Around 34% of the new mortgage loans approved were priced with reference to best lending rates in February, 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 64.3% from 62.6% in January.

The outstanding value of mortgage loans increased by 0.8% to HK$650.7 billion.

The mortgage delinquency ratio was unchanged at 0.03% while the rescheduled loan ratio edged down to 0.08% in February.

Annex

For further enquiries, please contact:
Alice Lo, Communications Chief, at 2878 1480 or
Yokee Wong, Manager (Communications), at 2878 1213

Hong Kong Monetary Authority
25 March 2010

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Last revision date : 25 March 2010