Sept 2023 2
Residential Mortgage Survey Results for July 2023

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for July 2023.

The number of mortgage applications in July decreased month-on-month by 2% to 8,086.  

Mortgage loans approved in July decreased by 18.2% compared with June to HK$28.1 billion.  Among these, mortgage loans financing primary market transactions decreased by 23.6% to HK$5.9 billion and those financing secondary market transactions decreased by 24% to HK$13.4 billion.  Mortgage loans for refinancing decreased by 2.6% to HK$8.9 billion. 

Mortgage loans drawn down during July decreased by 7.7% compared with June to HK$26.3 billion. 

The ratio of new mortgage loans priced with reference to HIBOR decreased from 94.8% in June to 94.6% in July. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.5% in June to 1.6% in July.

The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,851.5 billion at end-July. 

The mortgage delinquency ratio remained unchanged at 0.07% and the rescheduled loan ratio remained unchanged at nearly 0%.

Source:The Hong Kong Monetary Authority (2023.08.31)

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