Residential Mortgage Survey Results for September 2023

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

The number of mortgage applications in September increased month-on-month by 2% to 8,787.  

Mortgage loans approved in September decreased by 28.4% compared with August to HK$25.5 billion.  Among these, mortgage loans financing primary market transactions decreased by 32.1% to HK$3.2 billion and those financing secondary market transactions decreased by 35.4% to HK$9.3 billion.  Mortgage loans for refinancing decreased by 21.2% to HK$13 billion. 

Mortgage loans drawn down during September decreased by 3.9% compared with August to HK$20.1 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.4% in August to 94.1% in September. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.5% in August to 1.7% in September.

The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,856.8 billion at end-September. 

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 October 2023