The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for April 2020.
The number of mortgage applications in April decreased month-on-month by 16.8% to 10,838.
Mortgage loans approved in April decreased by 2.1% compared with March to HK$32.4 billion. Among these, mortgage loans financing primary market transactions decreased by 23.9% to HK$5.9 billion and those financing secondary market transactions increased by 9.1% to HK$20.7 billion. Mortgage loans for refinancing decreased by 9% to HK$5.9 billion.
Mortgage loans drawn down during April decreased by 16.6% compared with March to HK$17.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 88.7% in March to 90.5% in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 8.2% in March to 6.4% in April.
The outstanding value of mortgage loans increased month-on-month by 0.3% to HK$1,464.3 billion at end-April.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
29 May 2020
(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.