The Hong Kong Monetary Authority announced the results of the residential mortgage survey for January 2024.
The number of mortgage applications in January 2024 increased month-on-month by 36.8% to 6,523.
Mortgage loans approved in January 2024 increased by 15.1% compared with December 2023 to HK$21.1 billion. Among these, mortgage loans financing primary market transactions increased by 20.9% to HK$6.3 billion and those financing secondary market transactions increased by 26.6% to HK$11.3 billion. Mortgage loans for refinancing decreased by 15.9% to HK$3.6 billion.
Mortgage loans drawn down during January 2024 increased by 29.8% compared with December 2023 to HK$16.1 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 94.6% in December 2023 to 93.4% in January 2024. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.7% in December 2023 to 1.6% in January 2024.
The outstanding value of mortgage loans remained virtually unchanged in January, standing at HK$1,854.2 billion at end-January 2024.
The mortgage delinquency ratio remained unchanged at 0.08% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2024.2.29)
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