The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for November 2014.
The number of mortgage applications in November decreased month-on-month by 13.5% to 10,118.
Mortgage loans approved in November decreased by 16.1% compared with October to HK$23.8 billion. Among these, mortgage loans financing primary market transactions decreased by 26.7% to HK$5.8 billion and those financing secondary market transactions decreased by 12.5% to HK$13.9 billion. Mortgage loans for refinancing decreased by 10% to HK$4.1 billion.
Mortgage loans drawn down during November decreased by 9.6% compared with October to HK$20.9 billion.
New mortgage loans priced with reference to best lending rates increased from 13.4% in October to 13.9% in November with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 84.7% in October to 83.9% in November.
The outstanding value of mortgage loans increased month-on-month by 1% to HK$976 billion at end-November.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 December 2014