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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced the results of the residential mortgage survey for February 2015.
The number of mortgage applications in February decreased month-on-month by 23.6% to 10,393.
Mortgage loans approved in February decreased by 12.1% compared with January to HK$26.7 billion. Among these, mortgage loans financing primary market transactions decreased by 24.2% to HK$6 billion and those financing secondary market transactions decreased by 10.9% to HK$15.9 billion. Mortgage loans for refinancing increased by 3.7% to HK$4.8 billion.
Mortgage loans drawn down during February decreased by 24.8% compared with January to HK$16 billion.
New mortgage loans priced with reference to best lending rates decreased from 13.3% in January to 12.8% in February with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 84% in January to 85.4% in February.
The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$998 billion at end-February.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Tuesday, March 31, 2015
Issued at HKT 17:29
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