The Hong Kong Monetary Authority announced the results of the residential mortgage survey for August 2024.
The number of mortgage applications in August decreased month-on-month by 12.2% to 5,919.
Mortgage loans approved in August decreased by 12.2% compared with July to HK$21.8 billion. Among these, mortgage loans financing primary market transactions decreased by 11.7% to HK$7.6 billion and those financing secondary market transactions decreased by 13.7% to HK$11.8 billion. Mortgage loans for refinancing decreased by 5.6% to HK$2.4 billion.
Mortgage loans drawn down during August decreased by 2.9% compared with July to HK$15.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 89.8% in July to 88.6% in August. The ratio of new mortgage loans priced with reference to best lending rates increased from 4.6% in July to 6% in August.
The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,870.3 billion at end-August.
The mortgage delinquency ratio remained unchanged at 0.1% and the rescheduled loan ratio remained unchanged at nearly 0%.
The Hong Kong Monetary Authority (2024.9.30)
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