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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 January 2014.
Mortgage loans drawn down during January 2014 decreased by 6.2% compared with December 2013 to HK$11.3 billion.
Mortgage loans approved in January 2014 increased by 25.4% compared with December 2013 to HK$17.3 billion. Among these, mortgage loans financing primary market transactions increased by 53.0% to HK$6.0 billion and those financing secondary market transactions increased by 18.9% to HK$8.7 billion. Mortgage loans for refinancing also increased by 0.8% to HK$2.6 billion.
The number of mortgage applications in January 2014 increased by 17.6% month-on-month to 8,927.
New mortgage loans priced with reference to best lending rates decreased from 67.7% in December 2013 to 56.1% in January 2014 with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 30.5% in December 2013 to 41.7% in January 2014.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$906.3 billion at end-January 2014.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Thursday, February 27, 2014
Issued at HKT 17:36
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