Residential Mortgage Survey Results for July 2011

Press Releases

25 Aug 2011

Residential Mortgage Survey Results for July 2011

The Hong Kong Monetary Authority (HKMA) announced the results of the residential mortgage survey for July 2011.

New mortgage loans drawn down during July decreased by 16.0% to HK$20.2 billion compared with June.

New loans approved in July fell by 33.7% to HK$17.6 billion. Approvals for primary market transactions and secondary market transactions decreased by HK$1.0 billion (26.4%) and HK$6.3 billion (34.7%) respectively, while those for refinancing decreased by HK$1.6 billion (35.6%). The number of new applications in July fell by 22.6% to 9,221. The decline in the mortgage loan figures reflects the fall in transaction volume in June and July 2011.

Around 26% of the new mortgage loans approved in July 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 72.9% from 79.9% in June.

The outstanding value of mortgage loans increased by 0.8% to HK$794.3 billion.

The mortgage delinquency ratio and the rescheduled loan ratio remained unchanged at 0.01% and 0.03% respectively in July.

Annex

Hong Kong Monetary Authority
25 August 2011

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Last revision date : 26 August 2011