Residential mortgage survey results for November 2022

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for November 2022.

The number of mortgage applications in November increased month-on-month by 7% to 7,792.  

Mortgage loans approved in November decreased by 13.1% compared with October to HK$28.2 billion.  Among these, mortgage loans financing primary market transactions increased by 5.7% to HK$8.2 billion and those financing secondary market transactions decreased by 19.8% to HK$12.5 billion.  Mortgage loans for refinancing decreased by 17.7% to HK$7.6 billion. 

Mortgage loans drawn down during November increased by 1% compared with October to HK$21.3 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 84.1% in October to 70.2% in November. The ratio of new mortgage loans priced with reference to best lending rates increased from 9.1% to 16.6% in November.

The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,803.4 billion at end-November. 

The mortgage delinquency ratio increased slightly to 0.05% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
30 December 2022