Residential mortgage survey results for October 2024
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The Hong Kong Monetary Authority announced the results of the residential mortgage survey for October 2024.
The number of mortgage applications in October increased month-on-month by 46.5 per cent to 7 289.
Mortgage loans approved in October increased by 9.5 per cent compared with September to HK$19 billion. Among these, mortgage loans financing primary market transactions decreased by 2.4 per cent to HK$5.4 billion and those financing secondary market transactions increased by 14 per cent to HK$11.4 billion. Mortgage loans for refinancing increased by 21.2 per cent to HK$2.2 billion.
Mortgage loans drawn down during October decreased by 26.9 per cent compared with September to HK$11.2 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 88.6 per cent in September to 89.2 per cent in October. The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.2 per cent in September to 3.6 per cent in October.
The outstanding value of mortgage loans remained virtually unchanged in October, standing at HK$1,872.8 billion at end-October.
The mortgage delinquency ratio stood at a low level of 0.12 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.
Ends/Friday, November 29, 2024
Issued at HKT 16:30
Issued at HKT 16:30
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