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%.
Hong Kong Monetary Authority
31 October 2022