Residential Mortgage Survey Results for November 2011

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23 Dec 2011

Residential Mortgage Survey Results for November 2011

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

New mortgage loans drawn down during November decreased by 8.0% to HK$10.6 billion compared with October.

New loans approved in November fell by 4.7% to HK$11.9 billion compared with October. Among these, approvals for primary market transactions increased by 0.9% to HK$2.2 billion while approvals for secondary market transactions declined by 10.3% to HK$7.4 billion. Approvals for refinancing rose by 11.9% to HK$2.3 billion.  The number of new applications in November rose by 7% compared with October to 7,074.

New mortgage loans priced with reference to best lending rates increased from 69.7% in October to 79.2% in November, with the largest portion priced in the range of 2.25% to less than 2.5%.  New mortgage loans priced with reference to HIBOR decreased to 19.2% in November, mainly reflecting banks’ upward adjustments in the mortgage rate priced with reference to HIBOR.

The outstanding value of mortgage loans increased by 0.2% to HK$802.3 billion at end-November compared with end-October.

In November, the mortgage delinquency ratio remained unchanged at 0.01% and the rescheduled loan ratio remained unchanged 0.02%.

Annex

 

Hong Kong Monetary Authority
23 December 2011

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Last revision date : 23 December 2011