Residential Mortgage Survey Results for March 2024

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

The number of mortgage applications in March increased month-on-month by 70.1% to 8,622.  

Mortgage loans approved in March increased by 6.2% compared with February to HK$19.1 billion.  Among these, mortgage loans financing primary market transactions increased by 27% to HK$6.8 billion and those financing secondary market transactions decreased by 2.7% to HK$9.3 billion.  Mortgage loans for refinancing decreased by 2.3% to HK$3 billion. 

Mortgage loans drawn down during March increased by 3.8% compared with February to HK$11.8 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 94% in February to 93.1% in March.  The ratio of new mortgage loans priced with reference to best lending rates increased from 2% in February to 2.5% in March.

The outstanding value of mortgage loans remained virtually unchanged in March, standing at HK$1,853.4 billion at end-March. 

The mortgage delinquency ratio remained unchanged at 0.09% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
30 April 2024