Residential Mortgage Survey Results for March 2023

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

The number of mortgage applications in March increased month-on-month by 18.9% to 11,553.  

Mortgage loans approved in March increased by 31.5% compared with February to HK$44.9 billion. Among these, mortgage loans financing primary market transactions increased by 24.7% to HK$9.6 billion and those financing secondary market transactions increased by 38.5% to HK$30 billion. Mortgage loans for refinancing increased by 10.9% to HK$5.4 billion. 

Mortgage loans drawn down during March increased by 5.2% compared with February to HK$18.2 billion. 

The ratio of new mortgage loans priced with reference to HIBOR increased from 76.3% in February to 86.6% in March. The ratio of new mortgage loans priced with reference to best lending rates decreased from 21.1% in February to 9.1% in March.

The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,819.8 billion at end-March. 

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

Annex

Hong Kong Monetary Authority
28 April 2023