The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for June 2018.
The number of mortgage applications in June increased month-on-month by 0.6% to 14,579.
Mortgage loans approved in June decreased by 4.8% compared with May to HK$40.6 billion. Among these, mortgage loans financing primary market transactions decreased by 11.9% to HK$5.6 billion and those financing secondary market transactions decreased by 0.5% to HK$24.1 billion. Mortgage loans for refinancing decreased by 9.6% to HK$10.9 billion.
Mortgage loans drawn down during June increased by 8.6% compared with May to HK$33.7 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 67.1% in May to 89.7% in June. The ratio of new mortgage loans priced at fixed rates decreased from 28.5% in May to 5.2% in June.
The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,257.8 billion at end-June.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 July 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.