Residential Mortgage Survey Results for December 2011

Press Releases

27 Jan 2012

Residential Mortgage Survey Results for December 2011

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

New mortgage loans drawn down during December decreased by 15.8% to HK$8.9 billion compared with November. 

New loans approved in December fell by 12.8% to HK$10.4 billion compared with November.  Among these, approvals for primary market transactions increased by 25.7% to HK$2.8 billion while approvals for secondary market transactions decreased by 16.6% to HK$6.2 billion.  Approvals for refinancing fell by 38.2% to HK$1.4 billion.  The number of new applications in December fell by 14.6% compared with November to 6,039.

New mortgage loans priced with reference to best lending rates increased from 79.2% in November to 89.8% in December, with the largest portion priced within the range of 2.25% and 2.5%.  New mortgage loans priced with reference to HIBOR decreased to 8.2% in December.

The outstanding value of mortgage loans decreased by 0.2% to HK$801.1 billion at end-December compared with end-November. 

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

Annex

Hong Kong Monetary Authority
27 January 2012

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Last revision date : 27 January 2012