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Residential Mortgage Survey Results for January 2013

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 January 2013.

     Mortgage loans drawn down during January 2013 decreased by 15.9% compared with December 2012 to HK$15.9 billion.

     Mortgage loans approved in January 2013 increased by 39.9% compared with December 2012 to HK$21.2 billion. Among these, mortgage loans financing primary market transactions increased by 6.7% to HK$3.3 billion and those financing secondary market transactions increased by 55.0% to HK$14.7 billion. Mortgage loans for refinancing increased by 24.4% to HK$3.3 billion.

     The number of mortgage applications in January 2013 increased by 60.2% month-on-month to 11,932.

     New mortgage loans priced with reference to best lending rates decreased slightly from 90.4% in December 2012 to 90.3% in January 2013, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 7.7% in December 2012 to 7.4% in January 2013.

     The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$873.7 billion at end-January 2013.

     The mortgage delinquency ratio decreased slightly from 0.02% in December 2012 to 0.01% in January 2013. The rescheduled loan ratio remained unchanged at 0.01%.

Ends/Wednesday, February 27, 2013
Issued at HKT 17:22


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