Residential Mortgage Survey Results for August 2010

Press Releases

27 Sep 2010

Residential Mortgage Survey Results for August 2010

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

New mortgage loans drawn down during August rose by 27.8% to HK$33.1 billion compared with July.

New loans approved decreased by 1.3% to HK$40.3 billion. Approvals for primary market transactions dropped by HK$1.8 billion or 31.8%, while those for secondary market transactions and refinancing transactions increased by HK$0.8 billion, or 2.7%, and HK$0.5 billion, or 7.4%, respectively. The number of new applications fell by 8.6% to 23,663.

Around 10% of the new mortgage loans approved in August were priced with reference to best lending rates. The majority of these loans 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 89.5% from 87.4% in July.

The outstanding value of mortgage loans grew by 1.9% to HK$706.7 billion.

Both the mortgage delinquency ratio and the rescheduled loan ratio remained unchanged at 0.02% and 0.05% respectively in August.

Annex

For media enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Natalie Wu, Officer (Communications), at 2878 8246

Hong Kong Monetary Authority
27 September 2010

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Last revision date : 27 September 2010