The Hong Kong Monetary Authority announced the results of the residential mortgage survey for February 2023.
The number of mortgage applications in February increased month-on-month by 32.4% to 9,719.
Mortgage loans approved in February increased by 29.1% compared with January to HK$34.2 billion. Among these, mortgage loans financing primary market transactions increased by 18.4% to HK$7.7 billion and those financing secondary market transactions increased by 47.5% to HK$21.6 billion. Mortgage loans for refinancing decreased by 8.8% to HK$4.8 billion.
Mortgage loans drawn down during February increased by 0.6% compared with January to HK$17.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 67.4% in January to 76.3% in February. The ratio of new mortgage loans priced with reference to best lending rates decreased from 29.2% in January to 21.1% in February.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,817.8 billion at end-February.
The mortgage delinquency ratio remained unchanged at 0.06% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2023.03.31)
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