The Hong Kong Monetary Authority announced the results of the residential mortgage survey for March 2023.
The number of mortgage applications in March increased month-on-month by 18.9% to 11,553.
Mortgage loans approved in March increased by 31.5% compared with February to HK$44.9 billion. Among these, mortgage loans financing primary market transactions increased by 24.7% to HK$9.6 billion and those financing secondary market transactions increased by 38.5% to HK$30 billion. Mortgage loans for refinancing increased by 10.9% to HK$5.4 billion.
Mortgage loans drawn down during March increased by 5.2% compared with February to HK$18.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 76.3% in February to 86.6% in March. The ratio of new mortgage loans priced with reference to best lending rates decreased from 21.1% in February to 9.1% in March.
The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,819.8 billion at end-March.
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 (2023.04.28)
Service Hotline: 2836 6121 / 2836 6183
Signal / WHATSAPP: 5662 2730
Email: mortgage@ricacorp.com
RicaMortgage Pro APP provides one stop mortgage support, tools and services to help you find out which mortgage loans that best suits your financial situation.
