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Residential Mortgage Survey Results for August 2019
     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 August 2019.

     The number of mortgage applications in August decreased month-on-month by 26.5 per cent to 11,133.

     Mortgage loans approved in August decreased by 2.8 per cent compared with July to HK$45.3 billion. Among these, mortgage loans financing primary market transactions decreased by 3.6 per cent to HK$10.9 billion and those financing secondary market transactions decreased by 4.7 per cent to HK$16 billion. Mortgage loans for refinancing decreased by 0.6 per cent to HK$18.4 billion. 

     Mortgage loans drawn down during August decreased by 10.2 per cent compared with July to HK$36.6 billion. 

     The ratio of new mortgage loans priced with reference to HIBOR increased from 88.5 per cent in July to 89.1 per cent in August. The ratio of new mortgage loans priced with reference to best lending rates decreased from 9 per cent in July to 8.5 per cent in August.

     The outstanding value of mortgage loans increased month-on-month by 1.1 per cent to HK$1,403.2 billion at end-August. 

     The mortgage delinquency ratio remained unchanged at 0.02 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
Ends/Monday, September 30, 2019
Issued at HKT 16:52
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