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 April 2020.
The number of mortgage applications in April decreased month-on-month by 16.8 per cent to 10 838.
Mortgage loans approved in April decreased by 2.1 per cent compared with March to HK$32.4 billion. Among these, mortgage loans financing primary market transactions decreased by 23.9 per cent to HK$5.9 billion and those financing secondary market transactions increased by 9.1 per cent to HK$20.7 billion. Mortgage loans for refinancing decreased by nine per cent to HK$5.9 billion.
Mortgage loans drawn down during April decreased by 16.6 per cent compared with March to HK$17.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 88.7 per cent in March to 90.5 per cent in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 8.2 per cent in March to 6.4 per cent in April.
The outstanding value of mortgage loans increased month-on-month by 0.3 per cent to HK$1,464.3 billion at end-April.
The mortgage delinquency ratio remained unchanged at 0.03 per cent and the rescheduled loan ratio remained unchanged at nearly 0 per cent.
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