Residential Mortgage Survey Results for May 2024

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

The number of mortgage applications in May decreased month-on-month by 16.1% to 8,077.  

Mortgage loans approved in May increased by 8.8% compared with April to HK$31.6 billion.  Among these, mortgage loans financing primary market transactions increased by 3.7% to HK$11.5 billion and those financing secondary market transactions increased by 14.9% to HK$17.6 billion.  Mortgage loans for refinancing decreased by 4.8% to HK$2.5 billion. 

Mortgage loans drawn down during May increased by 27% compared with April to HK$16.5 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 93% in April to 92% in May.  The ratio of new mortgage loans priced with reference to best lending rates increased from 2.2% in April to 3.5% in May.

The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,856.1 billion at end-May. 

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

Annex

Hong Kong Monetary Authority
28 June 2024