The Hong Kong Monetary Authority announced the results of the residential mortgage survey for October 2022.
The number of mortgage applications in October decreased month-on-month by 16.6% to 7,280.
Mortgage loans approved in October decreased by 4.7% compared with September to HK$32.5 billion. Among these, mortgage loans financing primary market transactions increased by 14.6% to HK$7.8 billion and those financing secondary market transactions decreased by 3% to HK$15.5 billion. Mortgage loans for refinancing decreased by 18.6% to HK$9.2 billion.
Mortgage loans drawn down during October decreased by 18.7% compared with September to HK$21 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 96.4% in September to 84.1% in October. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.3% to 9.1% in October.
The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,798.9 billion at end-October.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source: The Hong Kong Monetary Authority (2022.11.30)
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