Residential Mortgage Survey Results for March 2010

Press Releases

26 Apr 2010

Residential Mortgage Survey Results for March 2010

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

New mortgage loans drawn down during March rose by 60.3% to HK$27.4 billion compared with February.

New loans approved grew by 38.7% to HK$36.9 billion. The rise was broad-based. Approvals for primary market transactions increased by HK$2.6 billion or 165.6%, approvals for secondary market transactions increased by HK$2.6 billion or 12.8%, and approvals for refinancing loans increased by HK$5.1 billion or 106.4%. The number of new applications rose to 24,713 from 16,398 in February.

Around 23% of the new mortgage loans approved were priced with reference to best lending rates in March, 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 grew to 76.5% from 64.3% in February.

The outstanding value of mortgage loans increased by 1.2% to HK$658.3 billion.

The mortgage delinquency ratio remained at 0.03% while the rescheduled loan ratio edged down to 0.07% in March.

Annex

For further enquiries, please contact:
Yokee Wong, Manager (Communications), at 2878 1213 or
Natalie Wu, Officer (Communications), at 2878 8246

Hong Kong Monetary Authority
26 April 2010

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Last revision date : 26 April 2010