Residential mortgage survey results for June 2013
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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 June 2013.

     Mortgage loans drawn down during June decreased by 11.3% compared with May to HK$12.8 billion.

     Mortgage loans approved in June increased by 1.2% compared with May to HK$15.7 billion. Among these, mortgage loans financing primary market transactions decreased by 45.9% to HK$1.8 billion and those financing secondary market transactions increased by 21.7% to HK$11.4 billion.  Mortgage loans for refinancing decreased by 12.4% to HK$2.5 billion.

     The number of mortgage applications in June increased by 7.1% month-on-month to 9 301.

     New mortgage loans priced with reference to best lending rates decreased from 78.9% in May to 66.5% in June, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 16.2% in May to 30.2% in June.

     The outstanding value of mortgage loans increased month-on-month by 0.5% to HK$896.9 billion at end-June.

     The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.

Ends/Friday, July 26, 2013
Issued at HKT 17:26

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