The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for June 2019.
The number of mortgage applications in June decreased month-on-month by 27.1% to 12,732.
Mortgage loans approved in June decreased by 14.6% compared with May to HK$44.7 billion. Among these, mortgage loans financing primary market transactions decreased by 8.2% to HK$11.5 billion and those financing secondary market transactions decreased by 27.7% to HK$18.9 billion. Mortgage loans for refinancing increased by 4.8% to HK$14.3 billion.
Mortgage loans drawn down during June increased by 14.8% compared with May to HK$38.5 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 88% in May to 88.3% in June. The ratio of new mortgage loans priced with reference to best lending rates increased from 8.6% in May to 8.9% in June.
The outstanding value of mortgage loans increased month-on-month by 1.4% to HK$1,370 billion at end-June.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 July 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.