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%.
Hong Kong Monetary Authority
30 June 2021