The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for April 2018.
The number of mortgage applications in April increased month-on-month by 8.6% to 14,898.
Mortgage loans approved in April decreased by 5.6% compared with March to HK$37.3 billion. Among these, mortgage loans financing primary market transactions decreased by 15% to HK$6.5 billion and those financing secondary market transactions decreased by 5.7% to HK$20.8 billion. Mortgage loans for refinancing increased by 1.9% to HK$10 billion.
Mortgage loans drawn down during April decreased by 11.3% compared with March to HK$26.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 50.3% in March to 46.3% in April. The ratio of new mortgage loans priced at fixed rates increased from 45.4% in March to 49.3% in April.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,236.3 billion at end-April.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 May 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.