The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for December 2018.
The number of mortgage applications in December decreased month-on-month by 21.2 % to 7,435.
Mortgage loans approved in December decreased by 20.7% compared with November to HK$23.5 billion. Among these, mortgage loans financing primary market transactions decreased by 25.2% to HK$6.5 billion and those financing secondary market transactions decreased by 12.5% to HK$7.7 billion. Mortgage loans for refinancing decreased by 23.3% to HK$9.3 billion.
Mortgage loans drawn down during December decreased by 17.6% compared with November to HK$21.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 40.4% in November to 46.6% in December. The ratio of new mortgage loans priced with reference to best lending rates decreased from 57.7% in November to 51.6% in December.
The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,311.3 billion at end-December.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 January 2019