Residential Mortgage Survey Results for August 2017
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The Hong Kong Monetary Authority ("HKMA") announced the results of the residential mortgage survey for August 2017.
The number of mortgage applications in August increased month-on-month by 20% to 10,908.
Mortgage loans approved in August decreased by 10.8% compared with July to HK$30.1 billion. Among these, mortgage loans financing primary market transactions decreased by 20.9% to HK$5.9 billion and those financing secondary market transactions decreased by 7.7% to HK$13.3 billion. Mortgage loans for refinancing decreased by 8.1% to HK$10.8 billion.
Mortgage loans drawn down during August decreased by 13.3% compared with July to HK$28.1 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.9% in July to 95.4% in August. The ratio of new mortgage loans priced with reference to best lending rates increased from 2% in July to 2.1% in August.
The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$1,178.1 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, September 29, 2017
Issued at HKT 17:30
Issued at HKT 17:30
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