Residential Mortgage Survey Results for January 2011

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25 Feb 2011

Residential Mortgage Survey Results for January 2011

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for January 2011.

New mortgage loans drawn down during January dropped by 30.0% to HK$21.7 billion compared with December last year.

New loans approved in January also declined by 3.2% to HK$28.0 billion. Approvals for primary market transactions and refinancing transactions decreased by HK$0.1 billion (4.6%) and HK$1.9 billion (25.7%) respectively, while those for secondary market transactions increased by HK$1.0 billion or 5.3%. The number of new applications in January was 19,474. This is 35.1% higher than the December figure, but 15.6% lower than November 2010.

Around 6% of the new mortgage loans approved in January were priced with reference to best lending rates, with the largest portion in the price range of 2% to less than 2.25%. The proportion of new mortgage loans priced with reference to HIBOR increased to 92.2% from 90.0% in December.

The outstanding value of mortgage loans increased by 0.7% to HK$745.8 billion.

Both the mortgage delinquency ratio and rescheduled loan ratio remained unchanged at 0.01% and 0.04% respectively in January.

Annex

Hong Kong Monetary Authority
25 February 2011

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Last revision date : 25 February 2011