The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for September 2020.
The number of mortgage applications in September increased month-on-month by 13.3% to 12,288.
Mortgage loans approved in September decreased by 1.6% compared with August to HK$37.1 billion. Among these, mortgage loans financing primary market transactions decreased by 13% to HK$5.6 billion and those financing secondary market transactions increased by 1.2% to HK$26.5 billion. Mortgage loans for refinancing decreased by 1.9% to HK$5 billion.
Mortgage loans drawn down during September decreased by 8.4% compared with August to HK$27.8 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 92.9% in August to 93.5% in September. The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.2% in August to 3.8% in September.
The outstanding value of mortgage loans increased month-on-month by 0.8% to HK$1,556 billion at end-September.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 October 2020