The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for December 2021.
The number of mortgage applications in December decreased month-on-month by 15.7% to 10,810.
Mortgage loans approved in December decreased by 13.7% compared with November to HK$44.3 billion. Among these, mortgage loans financing primary market transactions decreased by 37% to HK$8.8 billion and those financing secondary market transactions decreased by 5.2% to HK$24.7 billion. Mortgage loans for refinancing decreased by 4.3% to HK$10.8 billion.
Mortgage loans drawn down during December increased by 8.8% compared with November to HK$36.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 97.5% in November to 97.2% in December. The ratio of new mortgage loans priced with reference to best lending rates increased from 0.9% in November to 1.2% in December.
The outstanding value of mortgage loans increased month-on-month by 1% to HK$1,736.4 billion at end-December.
The mortgage delinquency ratio increased slightly to 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 January 2022