The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for October 2017.
The number of mortgage applications in October decreased month-on-month by 0.8% to 11,280.
Mortgage loans approved in October decreased by 1.6% compared with September to HK$29.1 billion. Among these, mortgage loans financing primary market transactions decreased by 4.5% to HK$6.0 billion and those financing secondary market transactions increased by 3.6% to HK$14.4 billion. Mortgage loans for refinancing decreased by 7.4% to HK$8.6 billion.
Mortgage loans drawn down during October decreased by 22% compared with September to HK$21.6 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 93.4% in September to 93.1% in October. The ratio of new mortgage loans priced with reference to best lending rates remained unchanged at 2.2% in October.
The outstanding value of mortgage loans increased month-on-month by 0.3% to HK$1,190.2 billion at end-October.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 November 2017
Note:
(Updates in October 2020) Due to classification issues of the data submitted by a reporting institution for the residential mortgage survey earlier, relevant results need to be revised. Details can be found on monthly statistical bulletin.