The Hong Kong Monetary Authority announced the results of the residential mortgage survey for August 2023.
The number of mortgage applications in August increased month-on-month by 6.6% to 8,617.
Mortgage loans approved in August increased by 26.9% compared with July to HK$35.6 billion. Among these, mortgage loans financing primary market transactions decreased by 19.8% to HK$4.7 billion and those financing secondary market transactions increased by 7.6% to HK$14.4 billion. Mortgage loans for refinancing increased by 86.9% to HK$16.6 billion.
Mortgage loans drawn down during August decreased by 20.5% compared with July to HK$20.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 94.6% in July to 95.4% in August. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.6% in July to 1.5% in August.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$1,854.4 billion at end-August.
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 (2023.09.29)
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