Residential Mortgage Survey Results for June 2023

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

The number of mortgage applications in June decreased month-on-month by 13.4% to 8,250.  

Mortgage loans approved in June decreased by 19.4% compared with May to HK$34.3 billion.  Among these, mortgage loans financing primary market transactions decreased by 43.2% to HK$7.7 billion and those financing secondary market transactions decreased by 21.6% to HK$17.6 billion.  Mortgage loans for refinancing increased by 36.5% to HK$9.1 billion. 

Mortgage loans drawn down during June increased by 19.3% compared with May to HK$28.5 billion. 

The ratio of new mortgage loans priced with reference to HIBOR increased from 94% in May to 94.8% in June. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.8% in May to 2.5% in June.

The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$1,841.3 billion at end-June. 

The mortgage delinquency ratio remained unchanged at 0.07% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 July 2023