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Hong Kong drawn down mortgage loans fall 5.9 pct in Aug vs July
September 27, 2013 / 8:54 AM / in 4 years

Hong Kong drawn down mortgage loans fall 5.9 pct in Aug vs July

HONG KONG, Sept 27 (Reuters) - New mortgage loans drawn down
in Hong Kong totalled HK$11.5 billion ($1.48 billion) in August,
down 5.9 percent from a month earlier, Hong Kong Monetary
Authority (HKMA) data showed on Friday.
    Following is the breakdown of data from the authority:
                                                     M/M
                                  August     July    Pct Change
New loans drawn down (HK$ mln)    11,476    12,199       -5.9
                  
New loans approvals(HK$ mln): 
  - Primary market                 1,644     1,138       44.5
  - Secondary market               9,857    11,855      -16.9
  - Refinancing                    2,992     2,850        5.0
  TOTAL                           14,493    15,842       -8.5
              
No. of applications (cases)        8,043     8,424       -4.5
                  
Outstanding loans (HK$ mln):     899,576   898,394        0.1
  - Delinquency ratio (pct)         0.02      0.02
  - Rescheduled loan ratio (pct)    0.00      0.00
               
Proportion of new mortgage loans
  priced with reference to:
  - best lending rates (pct)       69.9*      56.6       13.3
  - HIBOR (Hong Kong interbank
    offered rates) (pct)           27.9       39.9        -12
  *with majority priced within the range of 2.00 and 2.25
percent.
($1 = 7.7542 Hong Kong dollars)

 (Reporting by Twinnie Siu and Christina Lo; Editing by
Subhranshu Sahu)

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