Residential Mortgage Survey Results for May 2013

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26 Jun 2013

Residential Mortgage Survey Results for May 2013

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

Mortgage loans drawn down during May decreased by 3.4% compared with April to HK$14.5 billion. 

Mortgage loans approved in May decreased by 4.6% compared with April to HK$15.5 billion.  Among these, mortgage loans financing primary market transactions decreased by 28.3% to HK$3.3 billion and those financing secondary market transactions increased by 14.2% to HK$9.4 billion.  Mortgage loans for refinancing decreased by 18.1% to HK$2.8 billion. 

The number of mortgage applications in May increased by 17.8% month-on-month to 8,681.  The figures reflect an increase in residential property transaction volume.

New mortgage loans priced with reference to best lending rates decreased from 84.6% in April to 78.9% in May, with majority priced within the range of 2% and 2.5%. New mortgage loans priced with reference to HIBOR increased from 11.8% in April to 16.2% in May.  

The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$892.7 billion at end-May. 

The mortgage delinquency ratio increased slightly from 0.01% in April to 0.02% in May. The rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
26 June 2013

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Last revision date : 26 June 2013