Residential Mortgage Survey Results for December 2023

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

The number of mortgage applications in December decreased month-on-month by 20.5% to 4,768.  

Mortgage loans approved in December decreased by 25.3% compared with November to HK$18.3 billion.  Among these, mortgage loans financing primary market transactions decreased by 16.3% to HK$5.2 billion and those financing secondary market transactions decreased by 5.1% to HK$8.9 billion.  Mortgage loans for refinancing decreased by 52.6% to HK$4.3 billion. 

Mortgage loans drawn down during December decreased by 23.4% compared with November to HK$12.4 billion. 

The ratio of new mortgage loans priced with reference to HIBOR remained unchanged month-on-month at 94.6% in December. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.5% in November to 1.7% in December.

The outstanding value of mortgage loans decreased month-on-month by 0.1% to HK$1,855.1 billion at end-December. 

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

Annex

Hong Kong Monetary Authority
31 January 2024