The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority announced the results of the residential mortgage survey for June 2017.

     The number of mortgage applications in June decreased month-on-month by 1.2% to 14,654.  

     Mortgage loans approved in June increased by 5.6% compared with May to HK$44.0 billion.  Among these, mortgage loans financing primary market transactions increased by 19.2% to HK$10.2 billion and those financing secondary market transactions decreased by 10.4% to HK$19.5 billion.  Mortgage loans for refinancing increased by 26.1% to HK$14.3 billion. 

     Mortgage loans drawn down during June increased by 13.4% compared with May to HK$32 billion. 

     The ratio of new mortgage loans priced with reference to HIBOR increased from 95.2% in May to 95.9% in June. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.7% in May to 1.6% in June.

     The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$1,160.9 billion at end-June. 

     The mortgage delinquency ratio remained unchanged at 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.

Ends/Monday, July 31, 2017
Issued at HKT 17:05

NNNN