Residential Mortgage Survey Results for March 2013

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26 Apr 2013

Residential Mortgage Survey Results for March 2013

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for March 2013.

Mortgage loans drawn down during March increased by 52.0% compared with February to HK$18.6 billion. 

Mortgage loans approved in March increased by 16.1% compared with February to HK$21.6 billion.  Among these, mortgage loans financing primary market transactions increased by 69.5% to HK$5.1 billion and those financing secondary market transactions increased by 0.6% to HK$13.0 billion.  Mortgage loans for refinancing increased by 30.5% to HK$3.5 billion. 

The number of mortgage applications in March increased by 14.2% month-on-month to 10,291.  The low-base effect owing to the Chinese New Year holidays in February may have contributed to the month-on-month increase.  Compared with January 2013, the number of mortgage applications in March declined by 13.8%.

New mortgage loans priced with reference to best lending rates increased from 86.4% in February to 87.6% in March, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 11.4% in February to 10.7% in March.  

The outstanding value of mortgage loans increased month-on-month by 0.8% to HK$884.1 billion at end-March. 

The mortgage delinquency ratio remained unchanged at 0.01%. The  rescheduled loan ratio decreased from 0.01% in February to nearly 0% In March.

Annex

Hong Kong Monetary Authority
26 April 2013

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Last revision date : 26 April 2013