Residential Mortgage Survey Results for July 2004

Press Releases

27 Aug 2004

Residential Mortgage Survey Results for July 2004

The 25 authorized institutions which participate in the HKMA's monthly survey of residential mortgage lending reported a small increase in new loans drawn down during July, by 3.1% to HK$10.80 billion.

New loans approved by the institutions during July, on the other hand, fell slightly, by 0.4% to HK$11.74 billion. Approvals relating to primary market transactions increased by HK$0.72 billion (26%), but this was offset by a HK$0.56 billion (11%) reduction in those relating to secondary market transactions and a HK$0.20 billion (5%) reduction in those relating to refinancing.

The proportion of new approvals priced at more than 2.5% below the best lending rate increased to 65.3% from 62.6% in June, while that for fixed rate mortgages decreased to 12.0% from 14.4% in June.

The outstanding amount of mortgage loans edged up to HK$524.3 billion.

The mortgage delinquency ratio improved further to 0.54% from 0.57% in June. Together with the rescheduled loan ratio, which increased to 0.50% from 0.49% in June, the combined ratio improved to 1.04 from 1.07%.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
27 August 2004


Notes to Annex

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Last revision date : 27 August 2004