The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for May 2015.
The number of mortgage applications in May increased month-on-month by 19.8% to 11,990.
Mortgage loans approved in May increased by 17% compared with April to HK$26.6 billion. Among these, mortgage loans financing primary market transactions increased by 40.8% to HK$8.6 billion and those financing secondary market transactions increased by 10.3% to HK$13.3 billion. Mortgage loans for refinancing increased by 2.6% to HK$4.7 billion.
Mortgage loans drawn down during May decreased by 10.1% compared with April to HK$18.5 billion.
New mortgage loans priced with reference to best lending rates decreased from 13.1% in April to 12.2% in May with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 84.8% in April to 85.2% in May.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,025 billion at end-May.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 June 2015