The Hong Kong Monetary Authority announced the results of the residential mortgage survey for March 2022.
The number of mortgage applications in March increased month-on-month by 48.9% to 9,818.
Mortgage loans approved in March increased by 31.6% compared with February to HK$34.7 billion. Among these, mortgage loans financing primary market transactions increased by 40.4% to HK$6.3 billion and those financing secondary market transactions increased by 30.1% to HK$19.4 billion. Mortgage loans for refinancing increased by 29.2% to HK$8.9 billion.
Mortgage loans drawn down during March increased by 7.1% compared with February to HK$25.7 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 97.3% in February to 97.1% in March. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.4% in February to 1% in March.
The outstanding value of mortgage loans increased month-on-month by 0.3% to HK$1,760.2 billion at end-March.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
29 April 2022