The Hong Kong Monetary Authority announced the results of the residential mortgage survey for April 2023.
The number of mortgage applications in April decreased month-on-month by 27.6% to 8,368.
Mortgage loans approved in April decreased by 21.2% compared with March to HK$35.4 billion. Among these, mortgage loans financing primary market transactions increased by 0.8% to HK$9.7 billion and those financing secondary market transactions decreased by 29% to HK$21.3 billion. Mortgage loans for refinancing decreased by 17.5% to HK$4.4 billion.
Mortgage loans drawn down during April decreased by 6.5% compared with March to HK$17.1 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 86.6% in March to 93.9% in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 9.1% in March to 2.9% in April.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,822.8 billion at end-April.
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 (2023.05.31)
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.
