Residential Mortgage Survey Results for September 2022

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

The number of mortgage applications in September decreased month-on-month by 20% to 8,727.

Mortgage loans approved in September decreased by 11.6% compared with August to HK$34.1 billion. Among these, mortgage loans financing primary market transactions decreased by 1.7% to HK$6.8 billion and those financing secondary market transactions decreased by 16.8% to HK$16 billion. Mortgage loans for refinancing decreased by 8.9% to HK$11.3 billion.

Mortgage loans drawn down during September decreased by 14.8% compared with August to HK$25.9 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 96.6% in August to 96.4% in September. The ratio of new mortgage loans priced with reference to best lending rates remained unchanged at 1.3% in September.

The outstanding value of mortgage loans increased month-on-month by 0.3% to HK$1,796.5 billion at end-September.

The mortgage delinquency ratio decreased slightly to 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 October 2022