Residential Mortgage Survey Results for September 2016

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

The number of mortgage applications in September increased month-on-month by 1.8% to 13,536.  

Mortgage loans approved in September increased by 8.5% compared with August to HK$32.1 billion.  Among these, mortgage loans financing primary market transactions increased by 15.6% to HK$6.6 billion and those financing secondary market transactions increased by 8% to HK$18 billion.  Mortgage loans for refinancing increased by 3.8% to HK$7.5 billion. 

Mortgage loans drawn down during September increased by 33.6% compared with August to HK$23.2 billion. 

The ratio of new mortgage loans priced with reference to best lending rates decreased from 3% in August to 2.5% in September, 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 93.4% in August to 93.6% in September.  The ratio of mortgage loans priced at fixed rates decreased from 1.7% in August to 0.9% in September.

The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,095.3 billion at end-September. 

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

Annex

Hong Kong Monetary Authority
31 October 2016