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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 September 2014.
The number of mortgage applications in September decreased month-on-month by 5.2 per cent to 11,115.
Mortgage loans approved in September decreased by 3 per cent compared with August to HK$26.6 billion. Among these, mortgage loans financing primary market transactions decreased by 0.1 per cent to HK$6.9 billion and those financing secondary market transactions decreased by 6.2 per cent to HK$15.6 billion. Mortgage loans for refinancing increased by 5.9 per cent to HK$4.1 billion.
Mortgage loans drawn down during September increased by 23.5 per cent compared with August to HK$23.3 billion.
New mortgage loans priced with reference to best lending rates decreased from 15.7 per cent in August to 14.9 per cent in September 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 81.9 per cent in August to 82.6 per cent in September.
The outstanding value of mortgage loans increased month-on-month by 1 per cent to HK$956.5 billion at end-September.
The mortgage delinquency ratio slightly decreased to 0.02 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
Ends/Monday, October 27, 2014
Issued at HKT 17:08
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