Residential Mortgage Survey Results for April 2023

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

The number of mortgage applications in April decreased month-on-month by 27.6% to 8,368.  

Mortgage loans approved in April decreased by 21.2% compared with March to HK$35.4 billion. Among these, mortgage loans financing primary market transactions increased by 0.8% to HK$9.7 billion and those financing secondary market transactions decreased by 29% to HK$21.3 billion. Mortgage loans for refinancing decreased by 17.5% to HK$4.4 billion. 

Mortgage loans drawn down during April decreased by 6.5% compared with March to HK$17.1 billion. 

The ratio of new mortgage loans priced with reference to HIBOR increased from 86.6% in March to 93.9% in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 9.1% in March to 2.9% in April.

The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,822.8 billion at end-April. 

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 May 2023