The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for November 2020.
The number of mortgage applications in November increased month-on-month by 4.3% to 11,375.
Mortgage loans approved in November increased by 7.4% compared with October to HK$37.2 billion. Among these, mortgage loans financing primary market transactions increased by 11.7% to HK$6.1 billion and those financing secondary market transactions increased by 7.5% to HK$26.5 billion. Mortgage loans for refinancing increased by 2% to HK$4.7 billion.
Mortgage loans drawn down during November increased by 14.7% compared with October to HK$25.5 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 94.4% in October to 94.6% in November. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.9% in October to 2.5% in November.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,572.5 billion at end-November.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 December 2020