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%.
Hong Kong Monetary Authority
29 November 2019