The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for June 2020.
The number of mortgage applications in June decreased month-on-month by 7.9% to 13,829.
Mortgage loans approved in June increased by 16.3% compared with May to HK$47.6 billion. Among these, mortgage loans financing primary market transactions increased by 28.6% to HK$8.4 billion and those financing secondary market transactions increased by 19% to HK$33.9 billion. Mortgage loans for refinancing decreased by 10% to HK$5.3 billion.
Mortgage loans drawn down during June increased by 23.8% compared with May to HK$29.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 91% in May to 92.2% in June. The ratio of new mortgage loans priced with reference to best lending rates decreased from 5.7% in May to 4.7% in June.
The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,514.9 billion at end-June.
The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source: Hong Kong Monetary Authority
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