The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for April 2014.
Mortgage loans drawn down during April increased by 18.2% compared with March to HK$16 billion.
Mortgage loans approved in April increased by 2% compared with March to HK$19.6 billion. Among these, mortgage loans financing primary market transactions decreased by 1.3% to HK$5.6 billion and those financing secondary market transactions increased by 6.5% to HK$11 billion. Mortgage loans for refinancing decreased by 6.6% to HK$3.1 billion.
The number of mortgage applications in April decreased month-on-month by 2.8% to 9,156.
New mortgage loans priced with reference to best lending rates decreased from 39.7% in March to 34.6% in April with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 58.9% in March to 63.1% in April.
The outstanding value of mortgage loans increased month-on-month by 0.8% to HK$922.2 billion at end-April.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
29 May 2014