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 October 2019.
 
     The number of mortgage applications in October decreased month-on-month by 3.7 per cent to 9,299.
 
     Mortgage loans approved in October decreased by 3.9 per cent compared with September to HK$32.6 billion. Among these, mortgage loans financing primary market transactions increased by 4.6 per cent to HK$9.1 billion and those financing secondary market transactions increased by 14.6 per cent to HK$12.8 billion. Mortgage loans for refinancing decreased by 24 per cent to HK$10.6 billion. 

     Mortgage loans drawn down during October decreased by 23.5 per cent compared with September to HK$26.3 billion. 
 
     The ratio of new mortgage loans priced with reference to HIBOR decreased from 86.1 per cent in September to 84.6 per cent in October. The ratio of new mortgage loans priced with reference to best lending rates increased from 11.7 per cent in September to 12.4 per cent in October.
 
     The outstanding value of mortgage loans increased month-on-month by 0.5 per cent to HK$1,422.8 billion at end-October. 
 
     The mortgage delinquency ratio remained unchanged at 0.02 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.

Ends/Friday, November 29, 2019
Issued at HKT 16:30

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