The Hong Kong Monetary Authority announced the results of the residential mortgage survey for September 2023.
The number of mortgage applications in September increased month-on-month by 2% to 8,787.
Mortgage loans approved in September decreased by 28.4% compared with August to HK$25.5 billion. Among these, mortgage loans financing primary market transactions decreased by 32.1% to HK$3.2 billion and those financing secondary market transactions decreased by 35.4% to HK$9.3 billion. Mortgage loans for refinancing decreased by 21.2% to HK$13 billion.
Mortgage loans drawn down during September decreased by 3.9% compared with August to HK$20.1 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.4% in August to 94.1% in September. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.5% in August to 1.7% in September.
The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,856.8 billion at end-September.
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 (2023.10.31)
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