Residential Mortgage Survey Results for January 2022

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for January 2022.

The number of mortgage applications in January 2022 decreased month-on-month by 2.9% to 10,501.

Mortgage loans approved in January 2022 decreased by 4.7% compared with December 2021 to HK$42.2 billion. Among these, mortgage loans financing primary market transactions decreased by 21.1% to HK$7 billion and those financing secondary market transactions decreased by 2.9% to HK$24 billion. Mortgage loans for refinancing increased by 4.7% to HK$11.3 billion.

Mortgage loans drawn down during January 2022 decreased by 13.7% compared with December 2021 to HK$31.3 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 97.2% in December 2021 to 96.5% in January 2022. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.2% in December 2021 to 1.6% in January 2022.

The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,746.8 billion at end-January 2022.

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

Annex

Hong Kong Monetary Authority
28 February 2022