The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for August 2018.
The number of mortgage applications in August increased month-on-month by 26.3 % to 17,963.
Mortgage loans approved in August increased by 7.7% compared with July to HK$47.7 billion. Among these, mortgage loans financing primary market transactions increased by 18.7% to HK$9.4 billion and those financing secondary market transactions decreased by 12.2% to HK$20.9 billion. Mortgage loans for refinancing increased by 38.7% to HK$17.3 billion.
Mortgage loans drawn down during August increased by 7.1% compared with July to HK$32.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 94.5% in July to 93.5% in August. The ratio of new mortgage loans priced with reference to best lending rates increased from 3.1% in July to 4.6% in August.
The outstanding value of mortgage loans increased month-on-month by 0.8% to HK$1,277 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
28 September 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.