Residential Mortgage Survey Results for September 2020

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%.

Annex

Hong Kong Monetary Authority
30 October 2020