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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 May 2015.
The number of mortgage applications in May increased month-on-month by 19.8 per cent to 11,990.
Mortgage loans approved in May increased by 17 per cent compared with April to HK$26.6 billion. Among these, mortgage loans financing primary market transactions increased by 40.8 per cent to HK$8.6 billion and those financing secondary market transactions increased by 10.3 per cent to HK$13.3 billion. Mortgage loans for refinancing increased by 2.6 per cent to HK$4.7 billion.
Mortgage loans drawn down during May decreased by 10.1 per cent compared with April to HK$18.5 billion.
New mortgage loans priced with reference to best lending rates decreased from 13.1 per cent in April to 12.2 per cent in May with majority priced within the range of 2 per cent and 2.25 per cent. New mortgage loans priced with reference to HIBOR increased from 84.8 per cent in April to 85.2 per cent in May.
The outstanding value of mortgage loans increased month-on-month by 0.6 per cent to HK$1,025 billion at end-May.
The mortgage delinquency ratio remained unchanged at 0.03 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
Ends/Tuesday, June 30, 2015
Issued at HKT 16:33
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