Residential Mortgage Survey Results for October 2010

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26 Nov 2010

Residential Mortgage Survey Results for October 2010

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

New mortgage loans drawn down during October dropped by 26.1% to HK$25.1 billion compared with September.

New loans approved declined by 2.2% to HK$30.8 billion. Approvals for secondary market transactions contracted by HK$2.4 billion, or 11.4%, which more than offset an increase of HK$1.8 billion, or 78.8%, in approvals for primary market transactions. Approvals for refinancing transactions edged down slightly by HK$0.1 billion, or 1.3%. The number of new applications advanced by 16.0% to 20,363.

Around 8% of the new mortgage loans approved in October 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 91.6% from 90.7% in September.

The outstanding value of mortgage loans grew by 0.6% to HK$723.0 billion.

Both the mortgage delinquency ratio and the rescheduled loan ratio remained unchanged at 0.02% and 0.04% respectively in October.

Annex

For media enquiries, please contact:
Rhonda Lam, Communications Chief, at 2878 1480 or
Natalie Wu, Officer (Communications), at 2878 8246

Hong Kong Monetary Authority
26 November 2010

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Last revision date : 26 November 2010