Residential Mortgage Survey Results for February 2023

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for February 2023.

The number of mortgage applications in February increased month-on-month by 32.4% to 9,719.  

Mortgage loans approved in February increased by 29.1% compared with January to HK$34.2 billion.  Among these, mortgage loans financing primary market transactions increased by 18.4% to HK$7.7 billion and those financing secondary market transactions increased by 47.5% to HK$21.6 billion.  Mortgage loans for refinancing decreased by 8.8% to HK$4.8 billion. 

Mortgage loans drawn down during February increased by 0.6% compared with January to HK$17.3 billion. 

The ratio of new mortgage loans priced with reference to HIBOR increased from 67.4% in January to 76.3% in February. The ratio of new mortgage loans priced with reference to best lending rates decreased from 29.2% in January to 21.1% in February.

The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,817.8 billion at end-February. 

The mortgage delinquency ratio remained unchanged at 0.06% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 March 2023