The Hong Kong Monetary Authority announced the results of the residential mortgage survey for November 2022.
The number of mortgage applications in November increased month-on-month by 7% to 7,792.
Mortgage loans approved in November decreased by 13.1% compared with October to HK$28.2 billion. Among these, mortgage loans financing primary market transactions increased by 5.7% to HK$8.2 billion and those financing secondary market transactions decreased by 19.8% to HK$12.5 billion. Mortgage loans for refinancing decreased by 17.7% to HK$7.6 billion.
Mortgage loans drawn down during November increased by 1% compared with October to HK$21.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 84.1% in October to 70.2% in November. The ratio of new mortgage loans priced with reference to best lending rates increased from 9.1% to 16.6% in November.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,803.4 billion at end-November.
The mortgage delinquency ratio increased slightly to 0.05% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source: The Hong Kong Monetary Authority (2022.12.30)
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