Residential Mortgage Survey Results for June 2024

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

The number of mortgage applications in June decreased month-on-month by 17.2% to 6,690.  

Mortgage loans approved in June decreased by 22.5% compared with May to HK$24.5 billion.  Among these, mortgage loans financing primary market transactions decreased by 25.6% to HK$8.6 billion and those financing secondary market transactions decreased by 21.3% to HK$13.8 billion.  Mortgage loans for refinancing decreased by 16.6% to HK$2.1 billion. 

Mortgage loans drawn down during June increased by 46.9% compared with May to HK$24.3 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 92% in May to 90.4% in June.  The ratio of new mortgage loans priced with reference to best lending rates increased from 3.5% in May to 4.3% in June.

The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,866.8 billion at end-June. 

The mortgage delinquency ratio increased slightly to 0.1% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 July 2024