The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for August 2019.
The number of mortgage applications in August decreased month-on-month by 26.5% to 11,133.
Mortgage loans approved in August decreased by 2.8% compared with July to HK$45.3 billion. Among these, mortgage loans financing primary market transactions decreased by 3.6% to HK$10.9 billion and those financing secondary market transactions decreased by 4.7% to HK$16 billion. Mortgage loans for refinancing decreased by 0.6% to HK$18.4 billion.
Mortgage loans drawn down during August decreased by 10.2% compared with July to HK$36.6 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 88.5% in July to 89.1% in August. The ratio of new mortgage loans priced with reference to best lending rates decreased from 9% in July to 8.5% in August.
The outstanding value of mortgage loans increased month-on-month by 1.1% to HK$1,403.2 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 September 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.