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Residential Mortgage Survey Results for March 2007 According to the 23 authorized institutions (AIs) which participate in the HKMA’s monthly survey of residential mortgage lending, new mortgage loans drawn down during March increased by 55.1% to HK$12.1 billion. New loans approved rose by 57.4% to HK$16.3 billion. Primary market transactions rose by HK$0.9 billion (+49.6%), secondary market transactions by HK$3.2 billion (+47.1%) and refinancing loans by HK$1.8 billion (+105.4%). The number of new applications also increased, by 52.3%. The proportion of new loans approved at more than 2.5% below the best lending rate increased to 73.2% from 62.1% in February, while the proportion of new approvals priced with reference to rates other than the best lending rate or fixed rates decreased to 22.4% from 32.9% over the same period. The outstanding value of mortgage loans increased by 0.2% to HK$530.4 billion. The mortgage delinquency ratio decreased to a record low of 0.17% from 0.18% in February. Together with the decline of the rescheduled loan ratio to 0.26% from 0.27% in February, the combined ratio decreased to a record low of 0.43% from 0.45% in February. For further enquiries, please contact: Hong Kong
Monetary Authority
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