The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for January 2019.
The number of mortgage applications in January 2019 increased month-on-month by 54.6 % to 11,496.
Mortgage loans approved in January 2019 increased by 18.9% compared with December 2018 to HK$28 billion. Among these, mortgage loans financing primary market transactions increased by 11.1% to HK$7.2 billion and those financing secondary market transactions increased by 40.7% to HK$10.9 billion. Mortgage loans for refinancing increased by 6.4% to HK$9.9 billion.
Mortgage loans drawn down during January 2019 increased by 39.7% compared with December 2018 to HK$29.8 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 46.6% in December 2018 to 49.3% in January 2019. The ratio of new mortgage loans priced with reference to best lending rates decreased from 51.6% in December 2018 to 48% in January 2019.
The outstanding value of mortgage loans increased month-on-month by 1% to HK$1,324.7 billion at end-January 2019.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
28 February 2019