The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for December 2020.
The number of mortgage applications in December increased month-on-month by 0.2% to 11,396.
Mortgage loans approved in December increased by 3.4% compared with November to HK$38.4 billion. Among these, mortgage loans financing primary market transactions increased by 5.4% to HK$6.4 billion and those financing secondary market transactions increased by 0.7% to HK$26.6 billion. Mortgage loans for refinancing increased by 15.8% to HK$5.4 billion.
Mortgage loans drawn down during December increased by 3.7% compared with November to HK$26.5 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 94.6% in November to 95.2% in December. The ratio of new mortgage loans priced with reference to best lending rates increased from 2.5% in November to 2.6% in December.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,582.1 billion at end-December.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
29 January 2021