Residential mortgage survey results for August 2024
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The Hong Kong Monetary Authority announced the results of the residential mortgage survey for August 2024.
The number of mortgage applications in August decreased month-on-month by 12.2 per cent to 5,919.
Mortgage loans approved in August decreased by 12.2 per cent compared with July to HK$21.8 billion. Among these, mortgage loans financing primary market transactions decreased by 11.7 per cent to HK$7.6 billion and those financing secondary market transactions decreased by 13.7 per cent to HK$11.8 billion. Mortgage loans for refinancing decreased by 5.6 per cent to HK$2.4 billion.
Mortgage loans drawn down during August decreased by 2.9 per cent compared with July to HK$15.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 89.8 per cent in July to 88.6 per cent in August. The ratio of new mortgage loans priced with reference to best lending rates increased from 4.6 per cent in July to 6 per cent in August.
The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,870.3 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.1 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
Ends/Monday, September 30, 2024
Issued at HKT 16:30
Issued at HKT 16:30
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