Hong Kong Property Mortgage Applications Increase

imageThe number of Hong Kong Property Mortgage Applications Increase up by 22.8% in January 2015 increased month-on-month by 22.8% to 13,608. Reports the Hong Kong Monetary Authority On 27th Feb 2015

Mortgage loans approved in January 2015 increased by 21.4% compared with December 2014 to HK$30.3 billion.  Among these, mortgage loans financing primary market transactions increased by 43.7% to HK$7.9 billion and those financing secondary market transactions increased by 18.1% to HK$17.8 billion.  Mortgage loans for refinancing increased by 4.6% to HK$4.6 billion.

Mortgage loans drawn down during January 2015 decreased by 2.7% compared with December 2014 to HK$21.3 billion.

New mortgage loans priced with reference to best lending rates decreased from 13.5% in December 2014 to 13.3% in January 2015 with majority priced within the range of 2% and 2.25%. New mortgage loans priced with reference to HIBOR decreased from 84.5% in December 2014 to 84% in January 2015.

The outstanding value of mortgage loans increased month-on-month by 0.9% to HK$993.1 billion at end-January 2015.

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