Residential Mortgage Survey Results for January 2024

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for January 2024.

The number of mortgage applications in January 2024 increased month-on-month by 36.8% to 6,523.  

Mortgage loans approved in January 2024 increased by 15.1% compared with December 2023 to HK$21.1 billion.  Among these, mortgage loans financing primary market transactions increased by 20.9% to HK$6.3 billion and those financing secondary market transactions increased by 26.6% to HK$11.3 billion.  Mortgage loans for refinancing decreased by 15.9% to HK$3.6 billion. 

Mortgage loans drawn down during January 2024 increased by 29.8% compared with December 2023 to HK$16.1 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 94.6% in December 2023 to 93.4% in January 2024.  The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.7% in December 2023 to 1.6% in January 2024.

The outstanding value of mortgage loans remained virtually unchanged in January, standing at HK$1,854.2 billion at end-January 2024. 

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

Annex

Hong Kong Monetary Authority
29 February 2024