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Residential Mortgage Survey Results for September 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 September decreased by 7.2% to HK$15.0 billion. New loans approved fell by 21.9% to HK$15.1 billion. The decline was due to decreases in approvals for all types of property transaction. Approvals for primary market transactions decreased by HK$0.8 billion or 21.0%, secondary market transactions by HK$2.8 billion or 22.5%, and refinancing loans by HK$0.6 billion or 20.3%. The number of new applications also decreased by 25.4%. The proportion of new loans approved at more than 2.5% below the best lending rate decreased to 92.5% from 93.0% in August. The outstanding value of mortgage loans increased by 0.6% to HK$545.8 billion. The mortgage delinquency ratio and rescheduled loan ratio were stable at 0.13% and 0.23% respectively in September. The combined ratio improved to a record low of 0.351%. For
further enquiries, please contact: Hong Kong
Monetary Authority 1 Not the sum of the two ratios, due to rounding.
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