The Hong Kong Monetary Authority announced the results of the residential mortgage survey for March 2024.
The number of mortgage applications in March increased month-on-month by 70.1% to 8,622.
Mortgage loans approved in March increased by 6.2% compared with February to HK$19.1 billion. Among these, mortgage loans financing primary market transactions increased by 27% to HK$6.8 billion and those financing secondary market transactions decreased by 2.7% to HK$9.3 billion. Mortgage loans for refinancing decreased by 2.3% to HK$3 billion.
Mortgage loans drawn down during March increased by 3.8% compared with February to HK$11.8 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 94% in February to 93.1% in March. The ratio of new mortgage loans priced with reference to best lending rates increased from 2% in February to 2.5% in March.
The outstanding value of mortgage loans remained virtually unchanged in March, standing at HK$1,853.4 billion at end-March.
The mortgage delinquency ratio remained unchanged at 0.09% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2024.4.30)
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