Residential Mortgage Survey Results for June 2012

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 June 2012.

     Mortgage loans drawn down during June increased by 3.6% compared with May to HK$20.2 billion.

     Mortgage loans approved in June decreased by 20.4% compared with May to HK$21.2 billion.  Among these, mortgage loans financing primary market transactions increased by 0.7% to HK$4.2 billion and those financing secondary market transactions decreased by 28.5% to HK$14.1 billion.  Mortgage loans for refinancing increased by 5.2% to HK$2.9 billion.

     The number of applications in June decreased by 28.4% month-on-month to 10,231.

     New mortgage loans priced with reference to best lending rates increased from 91.2% in May to 93% in June, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 5.4% in May to 4.3% in June.

     The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$823.5 billion at end-June.

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

Ends/Friday, July 27, 2012
Issued at HKT 17:13