The Hong Kong Monetary Authority announced the results of the residential mortgage survey for December 2024.
The number of mortgage applications in December decreased month-on-month by 21.1% to 6,306.
Mortgage loans approved in December increased by 5.4% compared with November to HK$25.5 billion. Among these, mortgage loans financing primary market transactions increased by 8.7% to HK$8.6 billion and those financing secondary market transactions increased by 0.5% to HK$13.8 billion. Mortgage loans for refinancing increased by 21.1% to HK$3.1 billion.
Mortgage loans drawn down during December increased by 24.5% compared with November to HK$13.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 92.2% in November to 91.3% in December. The ratio of new mortgage loans priced with reference to best lending rates increased from 2.6% in November to 4.1% in December.
The outstanding value of mortgage loans remained virtually unchanged in December, standing at HK$1,870.6 billion at end-December.
The mortgage delinquency ratio stood at a low level of 0.11% and the rescheduled loan ratio was unchanged at nearly 0%.
Related News:
Comment