Residential Mortgage Survey Results for February 2014

Press Releases

27 Mar 2014

Residential Mortgage Survey Results for February 2014

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for February 2014.

Mortgage loans drawn down during February increased by 9.7% compared with January to HK$12.4 billion.

Mortgage loans approved in February decreased by 9.8% compared with January to HK$15.6 billion.  Among these, mortgage loans financing primary market transactions decreased by 3.6% to HK$5.8 billion and those financing secondary market transactions decreased by 16.3% to HK$7.3 billion.  Mortgage loans for refinancing also decreased by 2.1% to HK$2.5 billion.

The number of mortgage applications in February decreased by 19.4% month-on-month to 7,198.

New mortgage loans priced with reference to best lending rates decreased from 56.1% in January to 43.7% in February with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 41.7% in January to 54.8% in February.  

The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$910.7 billion at end-February.

The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
27 March 2014

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Last revision date : 27 March 2014