Residential Mortgage Survey Results for May 2010

Press Releases

28 Jun 2010

Residential Mortgage Survey Results for May 2010

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

New mortgage loans drawn down during May increased by 12.7% to HK$28.9 billion compared with April.

New loans approved grew by 0.1% to HK$37.8 billion. Approvals for primary market transactions were little changed at HK$4.7 billion. Approvals for secondary market transactions fell by HK$1.0 billion while approvals for refinancing loans increased by HK$1.1 billion. The number of new applications dropped by 11.1% to 20,283.

Around 16% of the new mortgage loans approved were priced with reference to best lending rates in May, 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 increased to 82.7% from 80.9% in April.

The outstanding value of mortgage loans increased by 1.5% to HK$675.6 billion.

Both the mortgage delinquency ratio and rescheduled loan ratio remained at 0.03% and 0.06% respectively in May.

Annex

For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Anissa Wong, Manager (Communications), at 2878 1802

Hong Kong Monetary Authority
28 June 2010

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Last revision date : 28 June 2010