The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for December 2017.
The number of mortgage applications in December decreased month-on-month by 14.2% to 10,520.
Mortgage loans approved in December decreased by 22.3% compared with November to HK$27.8 billion. Among these, mortgage loans financing primary market transactions decreased by 33.6% to HK$4.7 billion and those financing secondary market transactions decreased by 16.3% to HK$15.6 billion. Mortgage loans for refinancing decreased by 25.6% to HK$7.5 billion.
Mortgage loans drawn down during December decreased by 12.1% compared with November to HK$23.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 92.4% in November to 89.8% in December. The ratio of new mortgage loans priced at fixed rates increased from 3.5% in November to 5.5% in December.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,205.8 billion at end-December.
The mortgage delinquency ratio increased slightly to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 January 2018
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.