Residential Mortgage Survey Results for March 2017
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The Hong Kong Monetary Authority announced the results of the residential mortgage survey for March 2017.
The number of mortgage applications in March increased month-on-month by 57.5% to 15,603.
Mortgage loans approved in March increased by 33.9% compared with February to HK$37 billion. Among these, mortgage loans financing primary market transactions increased by 9% to HK$7.5 billion and those financing secondary market transactions increased by 46.5% to HK$19 billion. Mortgage loans for refinancing increased by 35% to HK$10.4 billion.
Mortgage loans drawn down during March increased by 17.8% compared with February to HK$24.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 93.3% in February to 94.1% in March. The ratio of new mortgage loans priced with reference to best lending rates decreased from 3% in February to 2.2% in March.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,137.1 billion at end-March.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, April 28, 2017
Issued at HKT 17:40
Issued at HKT 17:40
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