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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 September 2015.
The number of mortgage applications in September decreased month-on-month by 18.2% to 7,881.
Mortgage loans approved in September decreased by 12.3% compared with August to HK$21.1 billion. Among these, mortgage loans financing primary market transactions decreased by 3.9% to HK$5.7 billion and those financing secondary market transactions decreased by 21.1% to HK$10.8 billion. Mortgage loans for refinancing increased by 3.5% to HK$4.6 billion.
Mortgage loans drawn down during September decreased by 13.4% compared with August to HK$20.3 billion.
The ratio of new mortgage loans priced with reference to best lending rates in September was 11.8%, the same as August, with the majority priced within the range of 2% and 2.25%. The ratio of new mortgage loans priced with reference to HIBOR decreased from 82.7% in August to 82% in September.
The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$1,062.2 billion at end-September.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, October 30, 2015
Issued at HKT 17:32
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