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Residential mortgage survey results for January 2023
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 January 2023.
     The number of mortgage applications in January 2023 decreased month-on-month by 2.2 per cent to 7 342.  
     Mortgage loans approved in January 2023 increased by 3.6 per cent compared with December 2022 to HK$26.5 billion. Among these, mortgage loans financing primary market transactions decreased by 7.6 per cent to HK$6.5 billion and those financing secondary market transactions increased by 17.2 per cent to HK$14.7 billion. Mortgage loans for refinancing decreased by 11.8 per cent to HK$5.3 billion. 
     Mortgage loans drawn down during January 2023 decreased by 21.1 per cent compared with December 2022 to HK$17.2 billion. 
     The ratio of new mortgage loans priced with reference to HIBOR decreased from 67.5 per cent in December 2022 to 67.4 per cent in January 2023. The ratio of new mortgage loans priced with reference to best lending rates increased from 26 per cent in December 2022 to 29.2 per cent in January 2023.
     The outstanding value of mortgage loans increased month-on-month by 0.2 per cent to HK$1,814 billion at end-January 2023. 
     The mortgage delinquency ratio remained unchanged at 0.06 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
Ends/Tuesday, February 28, 2023
Issued at HKT 16:30
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