News Column

Mortgage loans up 5.9%

August 28, 2014

Hong Kong Government - Mortgage loans drawn down during July rose 5.9% month on month to $18.6 billion, the Monetary Authority announced today.

Mortgage loans approved in July increased 12.9% month on month, to $28.3 billion. Among these, mortgage loans financing primary market transactions increased 39.6% to $6.7 billion, and those financing secondary market transactions rose 6.5% to $17.8 billion. Mortgage loans for refinancing rose 6.8% to $3.8 billion.

Mortgage applications in July increased 11.2% month-on-month, to 12,728.

New mortgage loans priced with reference to best lending rates fell from 21% in June to 17.4% in July, with the majority priced in the range of 2% to 2.25%.

New mortgage loans priced with reference to HIBOR increased from 76.7% in June to 80.2% in July.

Mortgage loans' outstanding value increased month-on-month by 0.6% to $940 billion at the end of July.

The mortgage delinquency ratio nudged up to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.


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Source: M2 PressWIRE

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