The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for April 2021.
The number of mortgage applications in April decreased month-on-month by 7.7% to 16,568.
Mortgage loans approved in April decreased by 4.3% compared with March to HK$50.8 billion. Among these, mortgage loans financing primary market transactions decreased by 21.7% to HK$7.6 billion and those financing secondary market transactions increased by 0.8% to HK$36.5 billion. Mortgage loans for refinancing decreased by 6.4% to HK$6.7 billion.
Mortgage loans drawn down during April decreased by 2.4% compared with March to HK$29.5 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 95.7% in March to 96.7% in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.8% in March to 1.1% in April.
The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$1,616.4 billion at end-April.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 May 2021