Residential Mortgage Survey Results for February 2016

Press Releases

31 Mar 2016

Residential Mortgage Survey Results for February 2016

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for February 2016.

The number of mortgage applications in February decreased month-on-month by 24.4% to 4,869.

Mortgage loans approved in February decreased by 18.1% compared with January to HK$12.8 billion.  Among these, mortgage loans financing primary market transactions decreased by 30% to HK$3.4 billion and those financing secondary market transactions decreased by 12.8% to HK$5.8 billion.  Mortgage loans for refinancing decreased by 12.6% to HK$3.6 billion.

Mortgage loans drawn down during February decreased by 16.2% compared with January to HK$10.5 billion.

The ratio of new mortgage loans priced with reference to best lending rates increased from 11.4% in January to 14.2% in February, with the majority priced within the range of 2% and 2.25%. The ratio of new mortgage loans priced with reference to HIBOR increased from 77.2% in January to 77.4% in February.  The ratio of mortgage loans priced at fixed rates decreased from 7.5% in January to 7% in February.

The outstanding value of mortgage loans increased month-on-month by 0.04% to HK$1,076 billion at end-February.

The mortgage delinquency ratio slightly increased to 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 March 2016

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Last revision date : 31 March 2016