The Hong Kong Monetary Authority announced the results of the residential mortgage survey for May 2022.
The number of mortgage applications in May increased month-on-month by 9% to 12,892.
Mortgage loans approved in May increased by 43.2% compared with April to HK$54.6 billion. Among these, mortgage loans financing primary market transactions increased by 19.1% to HK$6.8 billion and those financing secondary market transactions increased by 59.9% to HK$37.5 billion. Mortgage loans for refinancing increased by 15.1% to HK$10.3 billion.
Mortgage loans drawn down during May increased by 19.6% compared with April to HK$23.1 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 97.4% in April to 97.6% in May. The ratio of new mortgage loans priced with reference to best lending rates decreased from 0.8% in April to 0.5% in May.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,766.6 billion at end-May.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 June 2022