Residential Mortgage Survey Results for November 2023

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

The number of mortgage applications in November increased month-on-month by 12% to 6,000.

Mortgage loans approved in November decreased by 1.7% compared with October to HK$24.5 billion. Among these, mortgage loans financing primary market transactions increased by 10.1% to HK$6.2 billion and those financing secondary market transactions increased by 17.1% to HK$9.4 billion. Mortgage loans for refinancing decreased by 20.8% to HK$9 billion.

Mortgage loans drawn down during November decreased by 20.1% compared with October to HK$16.2 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.5% in October to 94.6% in November. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.4% in October to 1.5% in November.

The outstanding value of mortgage loans decreased month-on-month by 0.04% to HK$1,857.5 billion at end-November.

The mortgage delinquency ratio increased slightly to 0.08% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
29 December 2023