The Hong Kong Monetary Authority announced the results of the residential mortgage survey for October 2024.
The number of mortgage applications in October increased month-on-month by 46.5% to 7,289.
Mortgage loans approved in October increased by 9.5% compared with September to HK$19 billion. Among these, mortgage loans financing primary market transactions decreased by 2.4% to HK$5.4 billion and those financing secondary market transactions increased by 14% to HK$11.4 billion. Mortgage loans for refinancing increased by 21.2% to HK$2.2 billion.
Mortgage loans drawn down during October decreased by 26.9% compared with September to HK$11.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 88.6% in September to 89.2% in October. The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.2% in September to 3.6% in October.
The outstanding value of mortgage loans remained virtually unchanged in October, standing at HK$1,872.8 billion at end-October.
The mortgage delinquency ratio stood at a low level of 0.12% and the rescheduled loan ratio was unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2024.11.30)
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