Residential Mortgage Survey Results for February 2017

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority announced the results of the residential mortgage survey for February 2017.

     The number of mortgage applications in February decreased month-on-month by 0.1% to 9,904.  

     Mortgage loans approved in February decreased by 2.4% compared with January to HK$27.6 billion.  Among these, mortgage loans financing primary market transactions increased by 0.8% to HK$6.9 billion and those financing secondary market transactions decreased by 3.5% to HK$13 billion.  Mortgage loans for refinancing decreased by 3.4% to HK$7.7 billion. 

     Mortgage loans drawn down during February decreased by 16% compared with January to HK$21.1 billion. 

     The ratio of new mortgage loans priced with reference to HIBOR decreased from 93.5% in January to 93.3% in February. The ratio of new mortgage loans priced with reference to best lending rates increased from 2.6% in January to 3% in February.

     The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,130.9 billion at end-February. 
     The mortgage delinquency ratio increased slightly to 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Ends/Friday, March 31, 2017
Issued at HKT 16:30