The Hong Kong Monetary Authority announced the results of the residential mortgage survey for October 2023.
The number of mortgage applications in October decreased month-on-month by 39% to 5,359.
Mortgage loans approved in October decreased by 2.2% compared with September to HK$24.9 billion. Among these, mortgage loans financing primary market transactions increased by 75.4% to HK$5.6 billion and those financing secondary market transactions decreased by 13.6% to HK$8 billion. Mortgage loans for refinancing decreased by 13.2% to HK$11.3 billion.
Mortgage loans drawn down during October increased by 0.5% compared with September to HK$20.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 94.1% in September to 95.5% in October. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.7% in September to 1.4% in October.
The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,858.2 billion at end-October.
The mortgage delinquency ratio remained unchanged at 0.07% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2023.11.30)
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