|
Residential Mortgage Survey Results for July 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 July 2008 increased by 3.6% to HK$17.3 billion compared with June 2008. New loans approved decreased by 16.6% to HK$18.4 billion. The decrease was distributed across all types of property transaction. Approvals for primary market transactions decreased by HK$0.7 billion or 32.9%, secondary market transactions by HK$2.6 billion or 16.1%, and refinancing loans by HK$0.4 billion or 10.2%. The number of new applications decreased by 14.2%. The proportion of new loans approved at more than 2.5% below the best lending rate decreased to 82.3% from 86.3% in June, as some of the AIs raised their mortgage rates for new mortgage loans. The outstanding value of mortgage loans increased by 0.7% to HK$594.1 billion. The mortgage delinquency ratio declined to 0.05% while the rescheduled loan ratio remained unchanged at 0.15%. The combined ratio declined to a record low of 0.20% from 0.21% in June. For further enquiries,
please contact: Hong Kong Monetary
Authority
 |