The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for August 2016.
The number of mortgage applications in August increased month-on-month by 29.4% to 13,300.
Mortgage loans approved in August increased by 29.5% compared with July to HK$29.6 billion. Among these, mortgage loans financing primary market transactions increased by 24.4% to HK$5.7 billion and those financing secondary market transactions increased by 25.4% to HK$16.7 billion. Mortgage loans for refinancing increased by 44.9% to HK$7.2 billion.
Mortgage loans drawn down during August increased by 10.1% compared with July to HK$17.4 billion.
The ratio of new mortgage loans priced with reference to best lending rates decreased from 3.8% in July to 3% in August, with the majority priced within the range of 2% and 2.25%. The ratio of new mortgage loans priced with reference to HIBOR increased from 92.6% in July to 93.4% in August. The ratio of mortgage loans priced at fixed rates decreased from 2.2% in July to 1.7% in August.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,088.6 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 September 2016