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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced the results of the residential mortgage survey for April 2010.
New mortgage loans drawn down during April declined by 6.2% to HK$25.7 billion compared with March.
New loans approved grew by 2.4% to HK$37.7 billion. Approvals for primary market transactions increased by HK$0.4 billion or 9.1%, approvals for secondary market transactions increased by HK$0.2 billion or 0.8%, and approvals for refinancing loans increased by HK$0.3 billion or 3.0%. The number of new applications dropped by 7.7% to 22,818.
Around 18% of the new mortgage loans approved were priced with reference to best lending rates in April, the majority of which were in the price range of 2% to less than 2.25%. The proportion of new mortgage loans priced with reference to HIBOR grew to 80.9% from 76.5% in March.
The outstanding value of mortgage loans increased by 1.1% to HK$665.6 billion.
The mortgage delinquency ratio remained at 0.03% in April. The rescheduled loan ratio edged down to 0.06% from 0.07% in March.
For further enquiries, please contact:
Alice Lo, Communications Chief, at 2878 1480 or
Peggy Lo, Manager (Communications), at 2878 1687
Ends/Wednesday, May 26, 2010
Issued at HKT 16:30
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