Residential Mortgage Survey Results for September 2012

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for September 2012.

Mortgage loans drawn down during September increased by 11.4% compared with August to HK$18.3 billion. 

Mortgage loans approved in September decreased by 11.1% compared with August to HK$22.4 billion.  Among these, mortgage loans financing primary market transactions decreased by 32.1% to HK$2.8 billion and those financing secondary market transactions decreased by 8.2% to HK$16.7 billion.  Mortgage loans for refinancing remained unchanged at HK$3 billion. 

The number of mortgage applications in September decreased by 12.8% month-on-month to 12,227.   

New mortgage loans priced with reference to best lending rates increased from 93% in August to 94.4% in September, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 3.9% in August to 2.9% in September.

The outstanding value of mortgage loans increased month-on-month by 1% to HK$842 billion at end-September. 

In September, the mortgage delinquency ratio remained unchanged at 0.01% and the rescheduled loan ratio remained unchanged at 0.01%.  

Annex

Hong Kong Monetary Authority
26 October 2012