The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for September 2019.
The number of mortgage applications in September decreased month-on-month by 13.3% to 9,655.
Mortgage loans approved in September decreased by 25.2% compared with August to HK$33.9 billion. Among these, mortgage loans financing primary market transactions decreased by 20.2% to HK$8.7 billion and those financing secondary market transactions decreased by 30.3% to HK$11.2 billion. Mortgage loans for refinancing decreased by 23.7% to HK$14 billion.
Mortgage loans drawn down during September decreased by 6% compared with August to HK$34.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 89.1% in August to 86.1% in September. The ratio of new mortgage loans priced with reference to best lending rates increased from 8.5% in August to 11.7% in September.
The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,415.2 billion at end-September.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 October 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.