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Residential Mortgage Survey Results for April 2008 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 2008 decreased by 1.2% to HK$20.4 billion. New loans approved decreased by 2.1% to HK$24.2 billion. The decrease was due to a decrease of HK$2.5 billion (-14.0%) in approvals for secondary market transactions, which more than offset increases of HK$1.3 billion (+45.0%) in approvals for primary market transactions and of HK$0.6 billion (+14.9%) in approvals for refinancing loans. The number of new applications decreased by 4.2%. The proportion of new loans approved at more than 2.5% below the best lending rate (BLR) decreased to 84.7% from 90.0% in March, as more new loans were approved at more than 2.25% and up to 2.5% below the BLR in April. The outstanding value of mortgage loans increased by 1.1% to HK$581.2 billion. The mortgage delinquency ratio and rescheduled loan ratio declined to 0.08% and 0.16% respectively, driving the combined ratio to a record low of 0.24%. For
further enquiries, please contact:
Hong Kong Monetary Authority
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