Residential Mortgage Survey Results for December 2021

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%.

Annex

Hong Kong Monetary Authority
31 January 2022