Residential Mortgage Survey Results for August 2020

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

The number of mortgage applications in August decreased month-on-month by 18.1% to 10,846.

Mortgage loans approved in August decreased by 12.2% compared with July to HK$37.7 billion. Among these, mortgage loans financing primary market transactions decreased by 21.2% to HK$6.5 billion and those financing secondary market transactions decreased by 11.8% to HK$26.2 billion. Mortgage loans for refinancing increased by 1% to HK$5.1 billion.

Mortgage loans drawn down during August decreased by 3.5% compared with July to HK$30.3 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 91.6% in July to 92.9% in August. The ratio of new mortgage loans priced with reference to best lending rates decreased from 5.1% in July to 4.2% in August.

The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,544.2 billion at end-August.

The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
30 September 2020