Residential Mortgage Survey Results for May 2019

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for May 2019.

The number of mortgage applications in May increased month-on-month by 16.2% to 17,456.

Mortgage loans approved in May increased by 30.1% compared with April to HK$52.3 billion. Among these, mortgage loans financing primary market transactions increased by 48.9% to HK$12.5 billion and those financing secondary market transactions increased by 23.5% to HK$26.2 billion. Mortgage loans for refinancing increased by 28.3% to HK$13.6 billion.

Mortgage loans drawn down during May increased by 58% compared with April to HK$33.6 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 89% in April to 88% in May. The ratio of new mortgage loans priced with reference to best lending rates increased from 8.1% in April to 8.6% in May.

The outstanding value of mortgage loans increased month-on-month by 1% to HK$1,351 billion at end-May.

The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
28 June 2019

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.