Residential Mortgage Survey Results for October 2019

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

The number of mortgage applications in October decreased month-on-month by 3.7% to 9,299.

Mortgage loans approved in October decreased by 3.9% compared with September to HK$32.6 billion. Among these, mortgage loans financing primary market transactions increased by 4.6% to HK$9.1 billion and those financing secondary market transactions increased by 14.6% to HK$12.8 billion. Mortgage loans for refinancing decreased by 24% to HK$10.6 billion.

Mortgage loans drawn down during October decreased by 23.5% compared with September to HK$26.3 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 86.1% in September to 84.6% in October. The ratio of new mortgage loans priced with reference to best lending rates increased from 11.7% in September to 12.4% in October.

The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,422.8 billion at end-October.

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

Annex

Hong Kong Monetary Authority
29 November 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.