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Residential mortgage survey results for December 2014
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The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority announced the results of the residential mortgage survey for December 2014.

     The number of mortgage applications in December increased month-on-month by 9.5% to 11,079.

     Mortgage loans approved in December increased by 4.9% compared with November to HK$25 billion. Among these, mortgage loans financing primary market transactions decreased by 5.1% to HK$5.5 billion and those financing secondary market transactions increased by 8.3% to HK$15.1 billion. Mortgage loans for refinancing increased by 7.6% to HK$4.4 billion.

     Mortgage loans drawn down during December increased by 5% compared with November to HK$21.9 billion.

     New mortgage loans priced with reference to best lending rates decreased from 13.9% in November to 13.5% in December with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 83.9% in November to 84.5% in December.   

     The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$984.5 billion at end-December.

     The mortgage delinquency ratio slightly increased to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.

Ends/Wednesday, January 28, 2015
Issued at HKT 18:06

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