The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for February 2018.
The number of mortgage applications in February decreased month-on-month by 21.2% to 11,166.
Mortgage loans approved in February decreased by 14.7% compared with January to HK$32.5 billion. Among these, mortgage loans financing primary market transactions decreased by 18.2% to HK$5.4 billion and those financing secondary market transactions decreased by 13.2% to HK$19.8 billion. Mortgage loans for refinancing decreased by 16.2% to HK$7.2 billion.
Mortgage loans drawn down during February decreased by 23.3% compared with January to HK$21.1 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 86.2% in January to 68.4% in February. The ratio of new mortgage loans priced at fixed rates increased from 8.8% in January to 27.6% in February.
The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,218.5 billion at end-February.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
29 March 2018
Note:
(Updates in October 2020) Due to classification issues of the data submitted by a reporting institution for the residential mortgage survey earlier, relevant results need to be revised. Details can be found on monthly statistical bulletin.