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 2025.
      
     The number of mortgage applications in January 2025 increased month-on-month by 3.3 per cent to 6 516.
      
     Mortgage loans approved in January 2025 decreased by 2.1 per cent compared with December 2024 to HK$25 billion. Among these, mortgage loans financing primary market transactions increased by 15.5 per cent to HK$10 billion and those financing secondary market transactions decreased by 11.7 per cent to HK$12.2 billion. Mortgage loans for refinancing decreased by 8.8 per cent to HK$2.9 billion.
      
     Mortgage loans drawn down during January 2025 increased by 17.6 per cent compared with December 2024 to HK$15.6 billion.
      
     The ratio of new mortgage loans priced with reference to HIBOR increased from 91.3 per cent in December 2024 to 93 per cent in January 2025. The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.1 per cent in December 2024 to 3.4 per cent in January 2025.
      
     The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,872.9 billion at end-January 2025.
      
     The mortgage delinquency ratio stood at a low level of 0.12 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.

Ends/Friday, February 28, 2025
Issued at HKT 16:30

NNNN