Residential Mortgage Survey Results for October 2021

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

The number of mortgage applications in October decreased month-on-month by 14.9% to 11,340.

Mortgage loans approved in October decreased by 7.4% compared with September to HK$49 billion. Among these, mortgage loans financing primary market transactions increased by 37% to HK$12.4 billion and those financing secondary market transactions decreased by 17.7% to HK$26.9 billion. Mortgage loans for refinancing decreased by 13.1% to HK$9.7 billion.

Mortgage loans drawn down during October decreased by 20.8% compared with September to HK$31.9 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 96.2% in September to 97.6% in October. The ratio of new mortgage loans priced with reference to best lending rates decreased from 0.9% in September to 0.7% in October.

The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,707.6 billion at end-October.

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

Annex

Hong Kong Monetary Authority
30 November 2021