Residential Mortgage Survey Results for October 2024

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

The number of mortgage applications in October increased month-on-month by 46.5% to 7,289.  

Mortgage loans approved in October increased by 9.5% compared with September to HK$19 billion.  Among these, mortgage loans financing primary market transactions decreased by 2.4% to HK$5.4 billion and those financing secondary market transactions increased by 14% to HK$11.4 billion.  Mortgage loans for refinancing increased by 21.2% to HK$2.2 billion. 

Mortgage loans drawn down during October decreased by 26.9% compared with September to HK$11.2 billion. 

The ratio of new mortgage loans priced with reference to HIBOR increased from 88.6% in September to 89.2% in October.  The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.2% in September to 3.6% in October.

The outstanding value of mortgage loans remained virtually unchanged in October, standing at HK$1,872.8 billion at end-October. 

The mortgage delinquency ratio stood at a low level of 0.12% and the rescheduled loan ratio was unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
29 November 2024