Residential Mortgage Survey Results for May 2021

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

The number of mortgage applications in May decreased month-on-month by 4% to 15,904.

Mortgage loans approved in May increased by 11.6% compared with April to HK$56.7 billion. Among these, mortgage loans financing primary market transactions decreased by 4.9% to HK$7.2 billion and those financing secondary market transactions increased by 11.2% to HK$40.6 billion. Mortgage loans for refinancing increased by 32.9% to HK$8.8 billion.

Mortgage loans drawn down during May increased by 21.1% compared with April to HK$35.7 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 96.7% in April to 96.8% in May. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.1% in April to 1% in May.

The outstanding value of mortgage loans increased month-on-month by 1% to HK$1,631.9 billion at end-May.

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 June 2021