Residential Mortgage Survey Results for April 2014
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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 April 2014.

     Mortgage loans drawn down during April increased by 18.2 per cent compared with March to HK$16 billion.

     Mortgage loans approved in April increased by 2 per cent compared with March to HK$19.6 billion.  Among these, mortgage loans financing primary market transactions decreased by 1.3 per cent to HK$5.6 billion and those financing secondary market transactions increased by 6.5 per cent to HK$11 billion.  Mortgage loans for refinancing decreased by 6.6 per cent to HK$3.1 billion.

     The number of mortgage applications in April decreased month-on-month by 2.8 per cent to 9 156.

     New mortgage loans priced with reference to best lending rates decreased from 39.7 per cent in March to 34.6 per cent in April with majority priced within the range of 2 per cent and 2.25 per cent. New mortgage loans priced with reference to HIBOR increased from 58.9 per cent in March to 63.1 per cent in April.   

     The outstanding value of mortgage loans increased month-on-month by 0.8 per cent to HK$922.2 billion at end-April.

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

Ends/Thursday, May 29, 2014
Issued at HKT 16:42

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