Residential Mortgage Survey Results for December 2019

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%.

Annex

Hong Kong Monetary Authority
31 January 2020

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.