The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for November 2021.
The number of mortgage applications in November increased month-on-month by 13.1% to 12,828.
Mortgage loans approved in November increased by 4.8% compared with October to HK$51.4 billion. Among these, mortgage loans financing primary market transactions increased by 13.1% to HK$14 billion and those financing secondary market transactions decreased by 3.1% to HK$26.1 billion. Mortgage loans for refinancing increased by 16.3% to HK$11.2 billion.
Mortgage loans drawn down during November increased by 4.7% compared with October to HK$33.4 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 97.6% in October to 97.5% in November. The ratio of new mortgage loans priced with reference to best lending rates increased from 0.7% in October to 0.9% in November.
The outstanding value of mortgage loans increased month-on-month by 0.7% to HK$1,719.9 billion at end-November.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Source: The Hong Kong Monetary Authority (2021.12.31)