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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 November 2015.
The number of mortgage applications in November increased month-on-month by 0.6% to 6 571.
Mortgage loans approved in November decreased by 9.3% compared with October to HK$15.4 billion. Among these, mortgage loans financing primary market transactions decreased by 5.9% to HK$4 billion and those financing secondary market transactions decreased by 18.3% to HK$6.8 billion. Mortgage loans for refinancing increased by 4.4% to HK$4.6 billion.
Mortgage loans drawn down during November decreased by 17% compared with October to HK$15.6 billion.
The ratio of new mortgage loans priced with reference to best lending rates decreased from 14.8% in October to 13.4% in November, with the majority priced within the range of 2% and 2.25%. The ratio of new mortgage loans priced with reference to HIBOR increased from 79.2% in October to 80.3% in November.
The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,072.4 billion at end-November.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Thursday, December 31, 2015
Issued at HKT 16:32
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