The Hong Kong Monetary Authority announced the results of the residential mortgage survey for July 2024.
The number of mortgage applications in July increased month-on-month by 0.7% to 6,740.
Mortgage loans approved in July increased by 1.5% compared with June to HK$24.8 billion. Among these, mortgage loans financing primary market transactions increased by 0.7% to HK$8.6 billion and those financing secondary market transactions decreased by 1% to HK$13.7 billion. Mortgage loans for refinancing increased by 21.5% to HK$2.5 billion.
Mortgage loans drawn down during July decreased by 32.3% compared with June to HK$16.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 90.4% in June to 89.8% in July. The ratio of new mortgage loans priced with reference to best lending rates increased from 4.3% in June to 4.6% in July.
The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,868 billion at end-July.
The mortgage delinquency ratio remained unchanged at 0.1% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2024.8.30)
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