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Residential Mortgage Survey Results for May 2018
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 May 2018.
     The number of mortgage applications in May decreased month-on-month by 2.7% to 14 491.  
     Mortgage loans approved in May increased by 14.4% compared with April to HK$42.6 billion. Among these, mortgage loans financing primary market transactions decreased by 2.1% to HK$6.4 billion and those financing secondary market transactions increased by 16.6% to HK$24.2 billion. Mortgage loans for refinancing increased by 20.4% to HK$12.1 billion. 
     Mortgage loans drawn down during May increased by 17.6% compared with April to HK$31 billion. 
     The ratio of new mortgage loans priced with reference to HIBOR increased from 46.3% in April to 67.1% in May. The ratio of new mortgage loans priced at fixed rates decreased from 49.3% in April to 28.5% in May.
     The outstanding value of mortgage loans increased month-on-month by 0.8% to HK$1,246.3 billion at end-May. 
     The mortgage delinquency ratio remained unchanged at 0.02% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, June 29, 2018
Issued at HKT 16:30
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