The Hong Kong Monetary Authority announced the results of the residential mortgage survey for June 2010.
New mortgage loans drawn down during June increased by 6.5% to HK$30.8 billion compared with May.
New loans approved decreased by 6.2% to HK$35.4 billion. Approvals for secondary market transactions dropped HK$0.7 billion or 3.1% while those for refinancing loans dropped HK$2.4 billion or 21.9%. They were partially offset by an increase of HK$0.8 billion or 16.3% in approvals for primary market transactions. The number of new applications rose by 8.2% to 21,947.
Around 15% of the new mortgage loans approved in June were priced with reference to best lending rates. The majority of these loans were in the price range of 2% to less than 2.25%. The proportion of new mortgage loans priced with reference to HIBOR increased to 83.9% from 82.7% in May.
The outstanding value of mortgage loans increased by 0.6% to HK$679.5 billion.
The mortgage delinquency ratio remained at 0.03% while the rescheduled loan ratio edged down to 0.05% in June.
For media enquiries, please contact:
Yokee Wong, Manager (Communications), at 2878 1213 or
Natalie Wu, Officer (Communications), at 2878 8246
Hong Kong Monetary Authority
27 July 2010