Powered by MOMENTUM MEDIA
realestatebusiness logo

Subscribe to our newsletter

Hong Kong mortgage approvals up 24pc

Hong Kong mortgage approvals increased by 23.7 per cent in March to HK$19.3 billion (AU$2.7 billion), according to the Hong Kong Monetary Authority.

Mortgage loans financing primary market transactions decreased by 2.3 per cent to HK$5.7 billion (AU$786 million), while those financing secondary market transactions increased by 42 per cent to HK$10.3 billion (AU$1.4 billion).

Mortgage loans for refinancing also increased by 30.7 per cent to HK$3.3 billion (AU$455 million).

Mortgage loans drawn down during March increased by 8.8 per cent compared with February to HK$13.5 billion (AU$1.8 billion).

The number of mortgage applications in March increased month-on-month by 30.8 per cent to 9,416.

Advertisement
Advertisement

New mortgage loans priced with reference to best lending rates decreased from 43.7 per cent in February to 39.7 per cent in March, with a majority priced between 2 per cent and 2.25 per cent.

New mortgage loans priced with reference to HIBOR (the Hong Kong Interbank Offer Rate) increased from 54.8 per cent in February to 58.9 per cent in March.

The outstanding value of mortgage loans increased month-on-month by 0.4 per cent to HK$914.6 billion (AU$126.1 billion) as of March's end.

Meanwhile, the mortgage delinquency rate remained unchanged at 0.02 per cent and the rescheduled loan rate remained unchanged at nearly 0 per cent.

 

Hong Kong mortgage approvals up 24pc
mortgagebusiness

Latest News

Home loans commitments took a positive turn in May following a fall in April, new data reveals. ...

Economists from three of the big four banks expect the Reserve Bank will hand down a similar cash rate hike of 50 bps today (5 July). ...

The banking group has confirmed it will be closing branches under the Westpac, Bank of Melbourne or St.George brands in more than 20 locatio...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think the new NSW property tax will help or hinder first home buyers?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.