Residential Mortgage Survey Results for April 2010

Press Releases

26 May 2010

Residential Mortgage Survey Results for April 2010

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

New mortgage loans drawn down during April declined by 6.2% to HK$25.7 billion compared with March.

New loans approved grew by 2.4% to HK$37.7 billion. Approvals for primary market transactions increased by HK$0.4 billion or 9.1%, approvals for secondary market transactions increased by HK$0.2 billion or 0.8%, and approvals for refinancing loans increased by HK$0.3 billion or 3.0%. The number of new applications dropped by 7.7% to 22,818.

Around 18% of the new mortgage loans approved were priced with reference to best lending rates in April, 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 80.9% from 76.5% in March.

The outstanding value of mortgage loans increased by 1.1% to HK$665.6 billion.

The mortgage delinquency ratio remained at 0.03% in April. The rescheduled loan ratio edged down to 0.06% from 0.07% in March.

Annex

For further enquiries, please contact:
Alice Lo, Communications Chief, at 2878 1480 or
Peggy Lo, Manager (Communications), at 2878 1687

Hong Kong Monetary Authority
26 May 2010

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Last revision date : 26 May 2010