The Hong Kong Monetary Authority announced the results of the residential mortgage survey for July 2023.
The number of mortgage applications in July decreased month-on-month by 2% to 8,086.
Mortgage loans approved in July decreased by 18.2% compared with June to HK$28.1 billion. Among these, mortgage loans financing primary market transactions decreased by 23.6% to HK$5.9 billion and those financing secondary market transactions decreased by 24% to HK$13.4 billion. Mortgage loans for refinancing decreased by 2.6% to HK$8.9 billion.
Mortgage loans drawn down during July decreased by 7.7% compared with June to HK$26.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 94.8% in June to 94.6% in July. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.5% in June to 1.6% in July.
The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,851.5 billion at end-July.
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 (2023.08.31)
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