Residential Mortgage Survey Results for July 2021

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

The number of mortgage applications in July decreased month-on-month by 1% to 15,176.

Mortgage loans approved in July decreased by 6.8% compared with June to HK$54.4 billion. Among these, mortgage loans financing primary market transactions decreased by 17.9% to HK$6.9 billion and those financing secondary market transactions decreased by 3.1% to HK$38 billion. Mortgage loans for refinancing decreased by 11.8% to HK$9.5 billion.

Mortgage loans drawn down during July increased by 0.4% compared with June to HK$39.3 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 96.4% in June to 96.5% in July. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.4% in June to 1.2% in July.

The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,663.8 billion at end-July.

The mortgage delinquency ratio decreased slightly to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 August 2021