|
Residential Mortgage Survey Results for August 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 August 2008 decreased by 29.6% to HK$12.2 billion compared with July 2008. New loans approved decreased by 27.0% to HK$13.5 billion. The decrease was distributed across all types of property transaction. Approvals for primary market transactions decreased by HK$0.5 billion or 37.5%, secondary market transactions by HK$3.6 billion or 26.8%, and refinancing loans by HK$0.8 billion or 23.6%. The number of new applications decreased by 25.9%. The proportion of new loans approved at more than 2.5% below the best lending rate increased to 82.8% from 82.3% in July. The outstanding value of mortgage loans increased by 0.2% to HK$595.5 billion. The mortgage delinquency ratio remained unchanged at 0.05% while the rescheduled loan ratio declined to 0.14%. The combined ratio declined to a record low of 0.19% from 0.20% in July.
For further enquiries, please contact:
Hong Kong
Monetary Authority
 |