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Residential Mortgage Survey Results for April 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 April decreased by 11.4% to HK$10.8 billion. New loans approved fell by 11.3% to HK$14.5 billion. The decline was mainly led by secondary market transactions which fell by HK$1.7 billion (-16.5%). Primary market transactions fell by HK$0.1 billion (-4.3%) while refinancing loans were little changed. The number of new applications also decreased, by 12.9%. The proportion of new loans approved at more than 2.5% below the best lending rate increased to 76.0% from 73.2% in March, while the proportion of new approvals priced with reference to rates other than the best lending rate or fixed rates decreased to 20.6% from 22.4% over the same period. The outstanding value of mortgage loans increased by 0.1% to HK$531.0 billion. The mortgage delinquency ratio was unchanged at 0.17%. Together with an unchanged rescheduled loan ratio of 0.26%, the combined ratio was stable at 0.43%.
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Hong Kong Monetary Authority
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