The Hong Kong Monetary Authority (HKMA) said September mortgage drawdowns fell 22.8% to HK$25.3 billion and applications dropped 10.5% to 7,560, while the outstanding mortgage balance still rose 0.2%.
The value approved for mortgages came to HK$31.8 billion, down 1.1% from August. That total included HK$8.5 billion for primary-market purchases, a 6.8% decrease, and HK$14.4 billion for secondary-market transactions, down 5.7%. Refinancing moved against those declines: approvals for that purpose rose 14.6% to HK$8.9 billion.
The outstanding mortgage balance reached HK$1.9803 trillion by Sept. 30, up 0.2% for the month. The delinquency rate registered 0.11%, while the proportion of rescheduled loans stayed near zero.
New lending tied to HIBOR made up 52.7% in September, below August's 57%. For best lending rate-based loans, the September share was 1.3%, compared with 1.9% a month earlier.
Broader lending also expanded in September: total loans and advances rose 0.7%, while the Hong Kong dollar loan-to-deposit ratio reached 70.3%. EconoTimes previously covered the September loan-to-deposit ratio increase.
