Residential Mortgage Survey Results for April 2011

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23 May 2011

Residential Mortgage Survey Results for April 2011

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

New mortgage loans drawn down during April decreased by 12.1% to HK$26.9 billion compared with March.

New loans approved in April fell by 36.7% to HK$27.6 billion. Approvals for primary market transactions and secondary market transactions decreased by HK$1.3 billion (22.1%) and HK$11.0 billion (38.8%) respectively, and those for refinancing transactions decreased by HK$3.7 billion or 39.2%. The number of new applications decreased by 36.2% in April to 14,782.

Around 9% of the new mortgage loans approved in April 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 decreased to 89.8% from 91.7% in March.

The outstanding value of mortgage loans increased by 1.1% to HK$770.2 billion.

The mortgage delinquency ratio increased slightly to 0.02% while the rescheduled loan ratio remained unchanged at 0.03% in April.

Annex

Hong Kong Monetary Authority
23 May 2011

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Last revision date : 23 May 2011