The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for April 2017.
The number of mortgage applications in April decreased month-on-month by 16.5% to 13,027.
Mortgage loans approved in April decreased by 13.6% compared with March to HK$31.9 billion. Among these, mortgage loans financing primary market transactions decreased by 17.8% to HK$6.2 billion and those financing secondary market transactions decreased by 8.9% to HK$17.3 billion. Mortgage loans for refinancing decreased by 19.3% to HK$8.4 billion.
Mortgage loans drawn down during April decreased by 15% compared with March to HK$21.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 94.1% in March to 94% in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.2% in March to 2.1% in April.
The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,142.2 billion at end-April.
The mortgage delinquency ratio decreased slightly to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source: Hong Kong Monetary Authority