Residential Mortgage Survey Results for March 2021

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for March 2021.

The number of mortgage applications in March increased month-on-month by 44.1% to 17,946.

Mortgage loans approved in March increased by 39% compared with February to HK$53 billion. Among these, mortgage loans financing primary market transactions increased by 86.5% to HK$9.7 billion and those financing secondary market transactions increased by 31.5% to HK$36.2 billion. Mortgage loans for refinancing increased by 31.7% to HK$7.1 billion.

Mortgage loans drawn down during March increased by 56.3% compared with February to HK$30.2 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.9% in February to 95.7% in March. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.7% in February to 1.8% in March.

The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,605.3 billion at end-March.

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 April 2021