Residential Mortgage Survey Results for March 2020

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

The number of mortgage applications in March increased month-on-month by 52.6% to 13,030.

Mortgage loans approved in March increased by 40% compared with February to HK$33.1 billion. Among these, mortgage loans financing primary market transactions increased by 70% to HK$7.7 billion and those financing secondary market transactions increased by 32% to HK$19 billion. Mortgage loans for refinancing increased by 35.4% to HK$6.5 billion.

Mortgage loans drawn down during March increased by 10.7% compared with February to HK$20.7 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 87.1% in February to 88.7% in March. The ratio of new mortgage loans priced with reference to best lending rates decreased from 10.2% in February to 8.2% in March.

The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,459.8 billion at end-March.

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

Annex

Hong Kong Monetary Authority
29 April 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.