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Residential Mortgage Survey Results for May 2017
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 2017.

     The number of mortgage applications in May increased month-on-month by 13.8% to 14,825.  

     Mortgage loans approved in May increased by 30.6% compared with April to HK$41.7 billion.  Among these, mortgage loans financing primary market transactions increased by 37.8% to HK$8.5 billion and those financing secondary market transactions increased by 25.6% to HK$21.8 billion.  Mortgage loans for refinancing increased by 35.6% to HK$11.4 billion. 

     Mortgage loans drawn down during May increased by 33.5% compared with April to HK$28.3 billion. 

     The ratio of new mortgage loans priced with reference to HIBOR increased from 94% in April to 95.2% in May. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.1% in April to 1.7% in May.

     The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$1,150.6 billion at end-May. 

     The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, June 30, 2017
Issued at HKT 17:00
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