The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for February 2022.
The number of mortgage applications in February decreased month-on-month by 37.2% to 6,592.
Mortgage loans approved in February decreased by 37.7% compared with January to HK$26.3 billion. Among these, mortgage loans financing primary market transactions decreased by 35.9% to HK$4.5 billion and those financing secondary market transactions decreased by 37.8% to HK$14.9 billion. Mortgage loans for refinancing decreased by 38.5% to HK$6.9 billion.
Mortgage loans drawn down during February decreased by 23.6% compared with January to HK$24 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 96.5% in January to 97.3% in February. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.6% in January to 1.4% in February.
The outstanding value of mortgage loans increased month-on-month by 0.4% to HK$1,754.3 billion at end-February.
The mortgage delinquency ratio increased slightly to 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source：Hong Kong Monetary Authority (2022.02.28)