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Residential mortgage survey results for April 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 April 2013.

     Mortgage loans drawn down during April decreased by 19.4% compared with March to HK$15.0 billion.

     Mortgage loans approved in April decreased by 25.1% compared with March to HK$16.2 billion. Among these, mortgage loans financing primary market transactions decreased by 11.0% to HK$4.6 billion and those financing secondary market transactions decreased by 36.9% to HK$8.2 billion. Mortgage loans for refinancing decreased by 1.4% to HK$3.4 billion.

     The number of mortgage applications in April decreased by 28.4% month-on-month to 7,370.

     New mortgage loans priced with reference to best lending rates decreased from 87.6% in March to 84.6% in April, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 10.7% in March to 11.8% in April.

     The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$887.9 billion at end-April.

     The mortgage delinquency ratio remained unchanged at 0.01% and the rescheduled loan ratio remained unchanged at nearly 0%.

Ends/Monday, May 27, 2013
Issued at HKT 17:06


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