Residential Mortgage Survey Results for July 2024

30 Aug 2024

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for July 2024.

The number of mortgage applications in July increased month-on-month by 0.7% to 6,740.

Mortgage loans approved in July increased by 1.5% compared with June to HK$24.8 billion. Among these, mortgage loans financing primary market transactions increased by 0.7% to HK$8.6 billion and those financing secondary market transactions decreased by 1% to HK$13.7 billion. Mortgage loans for refinancing increased by 21.5% to HK$2.5 billion.

Mortgage loans drawn down during July decreased by 32.3% compared with June to HK$16.4 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 90.4% in June to 89.8% in July. The ratio of new mortgage loans priced with reference to best lending rates increased from 4.3% in June to 4.6% in July.

The outstanding value of mortgage loans increased month-on-month by 0.1% to HK$1,868 billion at end-July.

The mortgage delinquency ratio remained unchanged at 0.1% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
30 August 2024