*****************************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced the results of the residential mortgage survey for November 2013.
Mortgage loans drawn down during November decreased by 0.4% compared with October to HK$11.2 billion.
Mortgage loans approved in November decreased by 2.1% compared with October to HK$14.6 billion. Among these, mortgage loans financing primary market transactions decreased by 2.3% to HK$3.5 billion and those financing secondary market transactions decreased by 6.2% to HK$8.0 billion. Mortgage loans for refinancing increased by 10.8% to HK$3.1 billion.
The number of mortgage applications in November decreased by 11.9% month-on-month to 7,567.
New mortgage loans priced with reference to best lending rates decreased from 71.7% in October to 67.1% in November, with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR increased from 26.3% in October to 30.5% in November.
The outstanding value of mortgage loans increased month-on-month by 0.2% to HK$903.6 billion at end-November.
The mortgage delinquency ratio increased slightly from 0.01% in October to 0.02% in November. The rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Friday, December 27, 2013
Issued at HKT 16:46
NNNN
