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%.
Source:：Hong Kong Monetary Authority (2020.08.31)