The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for October 2018.
The number of mortgage applications in October increased month-on-month by 34.8 % to 10,754.
Mortgage loans approved in October decreased by 4.6% compared with September to HK$30.1 billion. Among these, mortgage loans financing primary market transactions increased by 28.1% to HK$8 billion and those financing secondary market transactions decreased by 13.4% to HK$10.2 billion. Mortgage loans for refinancing decreased by 12.1% to HK$11.9 billion.
Mortgage loans drawn down during October decreased by 5.3% compared with September to HK$31.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 83.2% in September to 50.8% in October. The ratio of new mortgage loans priced with reference to best lending rates increased from 15.1% in September to 47.3% in October.
The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$1,298.5 billion at end-October.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 November 2018