Residential Mortgage Survey Results for September 2024

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

The number of mortgage applications in September decreased month-on-month by 15.9% to 4,977.  

Mortgage loans approved in September decreased by 20.6% compared with August to HK$17.3 billion.  Among these, mortgage loans financing primary market transactions decreased by 27.2% to HK$5.6 billion and those financing secondary market transactions decreased by 15.4% to HK$10 billion.  Mortgage loans for refinancing decreased by 25.1% to HK$1.8 billion. 

Mortgage loans drawn down during September decreased by 3.6% compared with August to HK$15.4 billion. 

The ratio of new mortgage loans priced with reference to HIBOR remained unchanged month-on-month at 88.6% in September.  The ratio of new mortgage loans priced with reference to best lending rates decreased from 6% in August to 4.2% in September.

The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,872.8 billion at end-September. 

The mortgage delinquency ratio remained at a low level of 0.11% and the rescheduled loan ratio was unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
31 October 2024