The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for September 2014.
The number of mortgage applications in September decreased month-on-month by 5.2% to 11,115.
Mortgage loans approved in September decreased by 3% compared with August to HK$26.6 billion. Among these, mortgage loans financing primary market transactions decreased by 0.1% to HK$6.9 billion and those financing secondary market transactions decreased by 6.2% to HK$15.6 billion. Mortgage loans for refinancing increased by 5.9% to HK$4.1 billion.
Mortgage loans drawn down during September increased by 23.5% compared with August to HK$23.3 billion.
New mortgage loans priced with reference to best lending rates decreased from 15.7% in August to 14.9% in September with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 81.9% in August to 82.6% in September.
The outstanding value of mortgage loans increased month-on-month by 1% to HK$956.5 billion at end-September.
The mortgage delinquency ratio slightly decreased to 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
27 October 2014