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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 June 2015.
The number of mortgage applications in June decreased month-on-month by 2.2% to 11,726.
Mortgage loans approved in June increased by 12.1% compared with May to HK$29.9 billion. Among these, mortgage loans financing primary market transactions decreased by 0.2% to HK$8.6 billion and those financing secondary market transactions increased by 18.6% to HK$15.8 billion. Mortgage loans for refinancing increased by 16.4% to HK$5.4 billion.
Mortgage loans drawn down during June increased by 4.1% compared with May to HK$19.3 billion.
New mortgage loans priced with reference to best lending rates decreased from 12.2% in May to 11.7% in June with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 85.2% in May to 85.8% in June.
The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,030.5 billion at end-June.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, July 31, 2015
Issued at HKT 17:03
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