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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 July 2015.
The number of mortgage applications in July decreased month-on-month by 13.5% to 10,139.
Mortgage loans approved in July decreased by 8.8% compared with June to HK$27.2 billion. Among these, mortgage loans financing primary market transactions decreased by 24.6% to HK$6.5 billion and those financing secondary market transactions increased by 0.6% to HK$15.9 billion. Mortgage loans for refinancing decreased by 11% to HK$4.8 billion.
Mortgage loans drawn down during July increased by 43.6% compared with June to HK$27.7 billion.
The ratio of new mortgage loans priced with reference to best lending rates increased from 11.7% in June to 11.9% in July, with the majority priced within the range of 2% and 2.25%. The ratio of new mortgage loans priced with reference to HIBOR decreased from 85.8% in June to 84.5% in July.
The outstanding value of mortgage loans increased month-on-month by 1.3% to HK$1,044.2 billion at end-July.
The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
Ends/Monday, August 31, 2015
Issued at HKT 16:35
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