Residential Mortgage Survey Results for August 2023

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

The number of mortgage applications in August increased month-on-month by 6.6% to 8,617.  

Mortgage loans approved in August increased by 26.9% compared with July to HK$35.6 billion.  Among these, mortgage loans financing primary market transactions decreased by 19.8% to HK$4.7 billion and those financing secondary market transactions increased by 7.6% to HK$14.4 billion.  Mortgage loans for refinancing increased by 86.9% to HK$16.6 billion. 

Mortgage loans drawn down during August decreased by 20.5% compared with July to HK$20.9 billion. 

The ratio of new mortgage loans priced with reference to HIBOR increased from 94.6% in July to 95.4% in August. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.6% in July to 1.5% in August.

The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,854.4 billion at end-August. 

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

Annex

Hong Kong Monetary Authority
29 September 2023