The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for January 2020.
The number of mortgage applications in January 2020 increased month-on-month by 16.3% to 9,115.
Mortgage loans approved in January 2020 decreased by 6.4% compared with December 2019 to HK$24.9 billion. Among these, mortgage loans financing primary market transactions decreased by 13% to HK$4.6 billion and those financing secondary market transactions decreased by 7.1% to HK$14.7 billion. Mortgage loans for refinancing increased by 2% to HK$5.6 billion.
Mortgage loans drawn down during January 2020 increased by 9.6% compared with December 2019 to HK$23.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 77.1% in December 2019 to 80.2% in January 2020. The ratio of new mortgage loans priced with reference to best lending rates decreased from 19.8% in December 2019 to 16.7% in January 2020.
The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$1,446 billion at end-January 2020.
The mortgage delinquency ratio decreased slightly to 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
28 February 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.