The Hong Kong Monetary Authority announced the results of the residential mortgage survey for August 2022.
The number of mortgage applications in August increased month-on-month by 14.8% to 10,907.
Mortgage loans approved in August decreased by 3.9% compared with July to HK$38.5 billion. Among these, mortgage loans financing primary market transactions decreased by 6.7% to HK$6.9 billion and those financing secondary market transactions decreased by 11.1% to HK$19.3 billion. Mortgage loans for refinancing increased by 12.1% to HK$12.4 billion.
Mortgage loans drawn down during August decreased by 1.2% compared with July to HK$30.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 96.8% in July to 96.6% in August. The ratio of new mortgage loans priced with reference to best lending rates increased from 1% in July to 1.3% in August.
The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,791.5 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.05% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 September 2022