Residential Mortgage Survey Results for April 2024

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

The number of mortgage applications in April increased month-on-month by 11.7% to 9,629.  

Mortgage loans approved in April increased by 52.4% compared with March to HK$29 billion.  Among these, mortgage loans financing primary market transactions increased by 64.8% to HK$11.1 billion and those financing secondary market transactions increased by 64.2% to HK$15.3 billion.  Mortgage loans for refinancing decreased by 12.7% to HK$2.6 billion. 

Mortgage loans drawn down during April increased by 9.9% compared with March to HK$13 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 93.1% in March to 93% in April.  The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.5% in March to 2.2% in April.

The outstanding value of mortgage loans remained virtually unchanged in April, standing at HK$1,853.2 billion at end-April. 

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

Annex

Hong Kong Monetary Authority
31 May 2024