Residential Mortgage Survey Results for February 2012

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26 Mar 2012

Residential Mortgage Survey Results for February 2012


The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for February 2012.

Mortgage loans drawn down during February increased by 25.8% compared with January to HK$7.6 billion. 

Mortgage loans approved in February rose by 44.1% compared with January to HK$14.4 billion.  Among these, mortgage loans financing primary market transactions increased by 9.1% to HK$3.3 billion and those financing secondary market transactions increased by 68.9% to HK$9.6 billion.  Mortgage loans for refinancing also rose by 15.7% to HK$1.5 billion.  The number of applications in February rose month-on-month by 82.5% to 10,485. The figures reflect an increase in residential property transaction volume. The low-base effect owing to the Chinese New Year holidays in January may also have contributed to the month-on-month increases.

New mortgage loans priced with reference to best lending rates decreased slightly from 93.6% in January to 91.3% in February, with majority priced within the range of 2.25% and 2.5%.  New mortgage loans priced with reference to HIBOR increased from 2.9% in January to 3.4% in February.

The outstanding value of mortgage loans remained at around HK$799.8 billion at end-February. 

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

Annex

Hong Kong Monetary Authority
26 March 2012

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Last revision date : 26 March 2012