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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced the results of the residential mortgage survey for August 2013.
Mortgage loans drawn down during August decreased by 5.9% compared with July to HK$11.5 billion.
Mortgage loans approved in August decreased by 8.5% compared with July to HK$14.5 billion. Among these, mortgage loans financing primary market transactions increased by 44.5% to HK$1.6 billion and those financing secondary market transactions decreased by 16.9% to HK$9.9 billion. Mortgage loans for refinancing increased by 5% to HK$3 billion.
The number of mortgage applications in August decreased by 4.5% month-on-month to 8 043.
New mortgage loans priced with reference to best lending rates increased from 56.6% in July to 69.9% in August, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 39.9% in July to 27.9% in August.
The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$899.6 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, September 27, 2013
Issued at HKT 16:31
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