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Residential Mortgage Survey Results for September 2013
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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 September 2013.

     Mortgage loans drawn down during September increased by 1.3% compared with August to HK$11.6 billion.

     Mortgage loans approved in September decreased by 6.7% compared with August to HK$13.5 billion.  Among these, mortgage loans financing primary market transactions increased by 67.5% to HK$2.8 billion and those financing secondary market transactions decreased by 17.4% to HK$8.1 billion.  Mortgage loans for refinancing also decreased by 12.3% to HK$2.6 billion.

     The number of mortgage applications in September decreased by 6.4% month-on-month to 7 526.

     New mortgage loans priced with reference to best lending rates increased from 69.9% in August to 72.7% in September, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 27.9% in August to 25.6% in September.  

     The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$900.3 billion at end-September.

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

Ends/Tuesday, October 29, 2013
Issued at HKT 16:53

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