The Hong Kong Monetary Authority announced the results of the residential mortgage survey for May 2023.
The number of mortgage applications in May increased month-on-month by 13.9% to 9,530.
Mortgage loans approved in May increased by 20.3% compared with April to HK$42.6 billion. Among these, mortgage loans financing primary market transactions increased by 39.9% to HK$13.5 billion and those financing secondary market transactions increased by 5.2% to HK$22.4 billion. Mortgage loans for refinancing increased by 50.2% to HK$6.7 billion.
Mortgage loans drawn down during May increased by 40.2% compared with April to HK$23.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 93.9% in April to 94% in May. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.9% in April to 2.8% in May.
The outstanding value of mortgage loans increased month-on-month by 0.3% to HK$1,828.9 billion at end-May.
The mortgage delinquency ratio increased slightly to 0.07% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2023.06.30)
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