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%.
Hong Kong Monetary Authority
28 February 2022