The Hong Kong Monetary Authority announced the results of the residential mortgage survey for December 2022.
The number of mortgage applications in December decreased month-on-month by 3.6% to 7,510.
Mortgage loans approved in December decreased by 9.4% compared with November to HK$25.6 billion. Among these, mortgage loans financing primary market transactions decreased by 14.3% to HK$7 billion and those financing secondary market transactions increased by 0.4% to HK$12.5 billion. Mortgage loans for refinancing decreased by 20.2% to HK$6 billion.
Mortgage loans drawn down during December increased by 2.8% compared with November to HK$21.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 70.2% in November to 67.5% in December. The ratio of new mortgage loans priced with reference to best lending rates increased from 16.6% in November to 26% in December.
The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,809.9 billion at end-December.
The mortgage delinquency ratio increased slightly to 0.06% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
31 January 2023