Residential Mortgage Survey Results for February 2020

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for February 2020.

The number of mortgage applications in February decreased month-on-month by 6.4% to 8,536.

Mortgage loans approved in February decreased by 5% compared with January to HK$23.7 billion. Among these, mortgage loans financing primary market transactions decreased by 2.1% to HK$4.5 billion and those financing secondary market transactions decreased by 1.9% to HK$14.4 billion. Mortgage loans for refinancing decreased by 15.5% to HK$4.8 billion.

Mortgage loans drawn down during February decreased by 20.2% compared with January to HK$18.7 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 80.2% in January to 87.1% in February. The ratio of new mortgage loans priced with reference to best lending rates decreased from 16.7% in January to 10.2% in February.

The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,452.4 billion at end-February.

The mortgage delinquency ratio increased slightly to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 March 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.