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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 June 2014.
Mortgage loans drawn down during June increased by 7.7% compared with May to HK$17.6 billion.
Mortgage loans approved in June increased by 10.1% compared with May to HK$25 billion. Among these, mortgage loans financing primary market transactions increased by 4.1% to HK$4.8 billion and those financing secondary market transactions increased by 13.4% to HK$16.7 billion. Mortgage loans for refinancing increased by 4.1% to HK$3.5 billion.
The number of mortgage applications in June increased month-on-month by 2.4% to 11 442.
New mortgage loans priced with reference to best lending rates decreased from 26.4% in May to 21% in June with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 71.4% in May to 76.7% in June.
The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$934.1 billion at end-June.
The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, July 25, 2014
Issued at HKT 17:15
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