The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for August 2021.
The number of mortgage applications in August decreased month-on-month by 8.2% to 13,927.
Mortgage loans approved in August decreased by 0.2% compared with July to HK$54.3 billion. Among these, mortgage loans financing primary market transactions increased by 8.3% to HK$7.5 billion and those financing secondary market transactions decreased by 4.6% to HK$36.3 billion. Mortgage loans for refinancing increased by 11.6% to HK$10.6 billion.
Mortgage loans drawn down during August increased by 0.9% compared with July to HK$39.6 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 96.5% in July to 97.5% in August. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.2% in July to 1.1% in August.
The outstanding value of mortgage loans increased month-on-month by 1% to HK$1,679.8 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 September 2021