Residential Mortgage Survey Results for October 2020

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

The number of mortgage applications in October decreased month-on-month by 11.2% to 10,908.

Mortgage loans approved in October decreased by 6.7% compared with September to HK$34.6 billion. Among these, mortgage loans financing primary market transactions decreased by 3.2% to HK$5.4 billion and those financing secondary market transactions decreased by 7.2% to HK$24.6 billion. Mortgage loans for refinancing decreased by 7.8% to HK$4.6 billion.

Mortgage loans drawn down during October decreased by 19.7% compared with September to HK$22.3 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 93.5% in September to 94.4% in October. The ratio of new mortgage loans priced with reference to best lending rates decreased from 3.8% in September to 2.9% in October.

The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,562.6 billion at end-October.

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 November 2020