Residential mortgage survey results for March 2023
**************************************************
The Hong Kong Monetary Authority announced the results of the residential mortgage survey for March 2023.
The number of mortgage applications in March increased month-on-month by 18.9 per cent to 11,553.
Mortgage loans approved in March increased by 31.5 per cent compared with February to HK$44.9 billion. Among these, mortgage loans financing primary market transactions increased by 24.7 per cent to HK$9.6 billion and those financing secondary market transactions increased by 38.5 per cent to HK$30 billion. Mortgage loans for refinancing increased by 10.9 per cent to HK$5.4 billion.
Mortgage loans drawn down during March increased by 5.2 per cent compared with February to HK$18.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 76.3 per cent in February to 86.6 per cent in March. The ratio of new mortgage loans priced with reference to best lending rates decreased from 21.1 per cent in February to 9.1 per cent in March.
The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,819.8 billion at end-March.
The mortgage delinquency ratio remained unchanged at 0.06 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
Ends/Friday, April 28, 2023
Issued at HKT 16:30
Issued at HKT 16:30
NNNN