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Residential Mortgage Survey Results for May 2012
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The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced the results of the residential mortgage survey for May 2012.

     Mortgage loans drawn down during May increased by 11.6% compared with April to HK$19.5 billion.  

     Mortgage loans approved in May increased by 5.2% compared with April to HK$26.7 billion.  Among these, mortgage loans financing primary market transactions increased by 39.7% to HK$4.2 billion and those financing secondary market transactions decreased by 1.5% to HK$19.7 billion.  Mortgage loans for refinancing increased by 17.9% to HK$2.8 billion.  

     The number of applications in May increased month-on-month by 6.8% to 14,290.    

     In May, 91.2% of mortgage loans were priced with reference to best lending rates, similar to that in April. The majority of new mortgage loans in May were priced within the range of 2% and 2.25%.  New mortgage loans priced with reference to HIBOR increased from 4.9% in April to 5.4% in May.

     The outstanding value of mortgage loans increased month-on-month by 0.8% to HK$815.9 billion at end-May.  

     In May, the mortgage delinquency ratio remained unchanged at 0.01% and the rescheduled loan ratio remained unchanged at 0.01%.

Ends/Tuesday, June 26, 2012
Issued at HKT 16:31

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