The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for July 2020.

The number of mortgage applications in July decreased month-on-month by 4.2% to 13,246.

Mortgage loans approved in July decreased by 9.8% compared with June to HK$43 billion. Among these, mortgage loans financing primary market transactions decreased by 2% to HK$8.2 billion and those financing secondary market transactions decreased by 12.3% to HK$29.7 billion. Mortgage loans for refinancing decreased by 6.3% to HK$5 billion.

Mortgage loans drawn down during July increased by 7.3% compared with June to HK$31.4 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 92.2% in June to 91.6% in July. The ratio of new mortgage loans priced with reference to best lending rates increased from 4.7% in June to 5.1% in July.

The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,528 billion at end-July.

The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Source::Hong Kong Monetary Authority (2020.08.31)


Contact us by phone or whatsapp anytime
Service Hotline: 2836 6121 / 2836 6183
WHATSAPP: 96083114


RicaMortgage Pro APP provides one stop mortgage support, tools and services to help you find out which mortgage loans that best suits your financial situation.

IOS user: http://apple.co/1Nbxhzo
Android user: http://bit.ly/1IJhbJb

You may also interested articles