|
Residential Mortgage Survey Results for May 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 May 2008 decreased by 15.3% to HK$17.2 billion. New loans approved decreased by 11.4% to HK$21.4 billion. The decrease was distributed across all types of property transaction. Approvals for primary market transactions decreased by HK$1.9 billion or 43.5%, secondary market transactions by HK$0.1 billion or 0.6%, and refinancing loans by HK$0.8 billion or 16.5%. The number of new applications increased by 4.8%. The proportion of new loans approved at more than 2.5% below the best lending rate slightly increased to 84.8% from 84.7% in April. The outstanding value of mortgage loans increased by 0.8% to HK$585.6 billion. The mortgage delinquency ratio and rescheduled loan ratio declined to 0.07% and 0.15% respectively, driving the combined ratio to a record low of 0.22%.
For further enquiries, please contact:
Hong Kong Monetary Authority
 |