The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for August 2020.
The number of mortgage applications in August decreased month-on-month by 18.1% to 10,846.
Mortgage loans approved in August decreased by 12.2% compared with July to HK$37.7 billion. Among these, mortgage loans financing primary market transactions decreased by 21.2% to HK$6.5 billion and those financing secondary market transactions decreased by 11.8% to HK$26.2 billion. Mortgage loans for refinancing increased by 1% to HK$5.1 billion.
Mortgage loans drawn down during August decreased by 3.5% compared with July to HK$30.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 91.6% in July to 92.9% in August. The ratio of new mortgage loans priced with reference to best lending rates decreased from 5.1% in July to 4.2% in August.
The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,544.2 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Hong Kong Monetary Authority
30 September 2020
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