Residential Mortgage Survey Results for February 2022

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for February 2022.

The number of mortgage applications in February decreased month-on-month by 37.2% to 6,592.

Mortgage loans approved in February decreased by 37.7% compared with January to HK$26.3 billion. Among these, mortgage loans financing primary market transactions decreased by 35.9% to HK$4.5 billion and those financing secondary market transactions decreased by 37.8% to HK$14.9 billion. Mortgage loans for refinancing decreased by 38.5% to HK$6.9 billion.

Mortgage loans drawn down during February decreased by 23.6% compared with January to HK$24 billion.

The ratio of new mortgage loans priced with reference to HIBOR increased from 96.5% in January to 97.3% in February. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.6% in January to 1.4% in February.

The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,754.3 billion at end-February.

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 March 2022