Mortgage loans approved in March increased by 39%

The Hong Kong Monetary Authority (“HKMA”) announced the results of the residential mortgage survey for March 2021.

The number of mortgage applications in March increased month-on-month by 44.1% to 17,946.

Mortgage loans approved in March increased by 39% compared with February to HK$53 billion. Among these, mortgage loans financing primary market transactions increased by 86.5% to HK$9.7 billion and those financing secondary market transactions increased by 31.5% to HK$36.2 billion. Mortgage loans for refinancing increased by 31.7% to HK$7.1 billion.

Mortgage loans drawn down during March increased by 56.3% compared with February to HK$30.2 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.9% in February to 95.7% in March. The ratio of new mortgage loans priced with reference to best lending rates increased from 1.7% in February to 1.8% in March.

The outstanding value of mortgage loans increased month-on-month by 0.6% to HK$1,605.3 billion at end-March.

The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Source:Hong Kong Monetary Authority (2021.04.30)


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