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Residential Mortgage Survey Results for May 2014

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 May 2014.

     Mortgage loans drawn down during May increased by 2.3% compared with April to HK$16.3 billion.

     Mortgage loans approved in May increased by 15.8% compared with April to HK$22.7 billion.  Among these, mortgage loans financing primary market transactions decreased by 17.1% to HK$4.6 billion and those financing secondary market transactions increased by 33.8% to HK$14.7 billion.  Mortgage loans for refinancing increased by 11.4% to HK$3.4 billion.

     The number of mortgage applications in May increased month-on-month by 22.1% to 11 175.

     New mortgage loans priced with reference to best lending rates decreased from 34.6% in April to 26.4% in May with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 63.1% in April to 71.4% in May.   

     The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$928 billion at end-May.

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

Ends/Friday, June 27, 2014
Issued at HKT 17:43


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