The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for November 2019.
The number of mortgage applications in November increased month-on-month by 1.2% to 9,412.
Mortgage loans approved in November decreased by 13.5% compared with October to HK$28.2 billion. Among these, mortgage loans financing primary market transactions decreased by 29.2% to HK$6.5 billion and those financing secondary market transactions increased by 17.2% to HK$15 billion. Mortgage loans for refinancing decreased by 37% to HK$6.7 billion.
Mortgage loans drawn down during November decreased by 16.1% compared with October to HK$22.1 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 84.6% in October to 79.7% in November. The ratio of new mortgage loans priced with reference to best lending rates increased from 12.4% in October to 17.7% in November.
The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,429.2 billion at end-November.
The mortgage delinquency ratio increased slightly to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 December 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.