The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for December 2019.
The number of mortgage applications in December decreased month-on-month by 16.7% to 7,836.
Mortgage loans approved in December decreased by 5.4% compared with November to HK$26.6 billion. Among these, mortgage loans financing primary market transactions decreased by 17.7% to HK$5.3 billion and those financing secondary market transactions increased by 5.2% to HK$15.8 billion. Mortgage loans for refinancing decreased by 17.5% to HK$5.5 billion.
Mortgage loans drawn down during December decreased by 3.1% compared with November to HK$21.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 79.7% in November to 77.1% in December. The ratio of new mortgage loans priced with reference to best lending rates increased from 17.7% in November to 19.8% in December.
The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,436.5 billion at end-December.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 January 2020