Residential mortgage survey results for September 2016
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The Hong Kong Monetary Authority announced the results of the residential mortgage survey for September 2016.
The number of mortgage applications in September increased month-on-month by 1.8% to 13,536.
Mortgage loans approved in September increased by 8.5% compared with August to HK$32.1 billion. Among these, mortgage loans financing primary market transactions increased by 15.6% to HK$6.6 billion and those financing secondary market transactions increased by 8% to HK$18 billion. Mortgage loans for refinancing increased by 3.8% to HK$7.5 billion.
Mortgage loans drawn down during September increased by 33.6% compared with August to HK$23.2 billion.
The ratio of new mortgage loans priced with reference to best lending rates decreased from 3% in August to 2.5% in September, 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 93.4% in August to 93.6% in September. The ratio of mortgage loans priced at fixed rates decreased from 1.7% in August to 0.9% in September.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,095.3 billion at end-September.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Monday, October 31, 2016
Issued at HKT 17:28
Issued at HKT 17:28
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