The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for November 2018.
The number of mortgage applications in November decreased month-on-month by 12.3 % to 9,431.
Mortgage loans approved in November decreased by 1.5% compared with October to HK$29.7 billion. Among these, mortgage loans financing primary market transactions increased by 8.9% to HK$8.7 billion and those financing secondary market transactions decreased by 13.6% to HK$8.8 billion. Mortgage loans for refinancing increased by 1.9% to HK$12.1 billion.
Mortgage loans drawn down during November decreased by 16.9% compared with October to HK$25.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 50.8% in October to 40.4% in November. The ratio of new mortgage loans priced with reference to best lending rates increased from 47.3% in October to 57.7% in November.
The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,305.4 billion at end-November.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 December 2018