The Hong Kong Monetary Authority announced the results of the residential mortgage survey for November 2023.
The number of mortgage applications in November increased month-on-month by 12% to 6,000.
Mortgage loans approved in November decreased by 1.7% compared with October to HK$24.5 billion. Among these, mortgage loans financing primary market transactions increased by 10.1% to HK$6.2 billion and those financing secondary market transactions increased by 17.1% to HK$9.4 billion. Mortgage loans for refinancing decreased by 20.8% to HK$9 billion.
Mortgage loans drawn down during November decreased by 20.1% compared with October to HK$16.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.5% in October to 94.6% in November. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.4% in October to 1.5% in November.
The outstanding value of mortgage loans decreased month-on-month by 0.04% to HK$1,857.5 billion at end-November.
The mortgage delinquency ratio increased slightly to 0.08% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：The Hong Kong Monetary Authority (2023.12.29)
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