First hand property buyers borrow HK$6.3b in September

Local | 31 Oct 2017 4:57 pm

Hong Kong home buyers borrowed more last month to finance first hand properties.

Mortgage loans financing primary market deals increased by 6.6 percent to HK$6.3 billion, the Hong Kong Monetary Auhority said.

Mortgage loans financing secondary market transactions increased by 4.6 percent to HK$13.9 billion.

Mortgage loans for refinancing dropped by 14 percent to HK$9.3 billion. 

In September, approved mortgage loans dropped by 1.7 percent compared with August to HK$29.5 billion.

The ratio of new mortgage loans priced with reference to HIBOR decreased from 95.4 percent in August to 93.4 percent in September. The ratio of new mortgage loans priced with reference to best lending rates increased from 2.1 percent in August to 2.2 percent in September.

The outstanding value of mortgage loans increased month-on-month by 0.7 percent to HK$1.18 trillion at the end of September, the HKMA reported. 

The mortgage delinquency ratio eased slightly to 0.02 percent and the rescheduled loan ratio remained unchanged at nearly 0 percent.

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