Residential Mortgage Survey Results for July 2020
*************************************************
The Hong Kong Monetary Authority announced the results of the residential mortgage survey for July 2020.
The number of mortgage applications in July decreased month-on-month by 4.2 per cent to 13,246.
Mortgage loans approved in July decreased by 9.8 per cent compared with June to HK$43 billion. Among these, mortgage loans financing primary market transactions decreased by 2 per cent to HK$8.2 billion and those financing secondary market transactions decreased by 12.3 per cent to HK$29.7 billion. Mortgage loans for refinancing decreased by 6.3 per cent to HK$5 billion.
Mortgage loans drawn down during July increased by 7.3 per cent compared with June to HK$31.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 92.2 per cent in June to 91.6 per cent in July. The ratio of new mortgage loans priced with reference to best lending rates increased from 4.7 per cent in June to 5.1 per cent in July.
The outstanding value of mortgage loans increased month-on-month by 0.9 per cent to HK$1,528 billion at end-July.
The mortgage delinquency ratio remained unchanged at 0.04 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
Ends/Monday, August 31, 2020
Issued at HKT 16:30
Issued at HKT 16:30
NNNN