The residential mortgage survey for March 2025 showed an increase in mortgage applications by 29.3%, a decrease in approved mortgage loans by 5.3%, and a decline in mortgage loans drawn down by 9.6%. The outstanding value of mortgage loans increased by 0.1% to HK$1,877.7 billion, with delinquency and rescheduled loan ratios remaining low.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The Hong Kong Monetary Authority has released the residential mortgage survey results for March 2025.
Mortgage applications increased significantly in March, with a 29.3% month-on-month rise, reaching 8,456 applications.
Mortgage loans approved in March decreased by 5.3% compared to February, totaling HK$24.7 billion. This decline was primarily driven by a 16.8% reduction in loans financing primary market transactions to HK$10.1 billion, while loans for secondary market transactions increased by 6.2% to HK$11.6 billion. Refinancing loans also decreased slightly by 0.9% to HK$3 billion.
Mortgage loans drawn down during March decreased by 9.6% compared to February, amounting to HK$15.9 billion.
There was a notable shift in the pricing of new mortgage loans. The ratio of loans referenced to HIBOR dropped from 94% in February to 90.4% in March, while the ratio of loans referenced to best lending rates increased from 2.4% to 3.2% over the same period.
The outstanding value of mortgage loans increased by 0.1% month-on-month to HK$1,877.7 billion by the end of March.
The mortgage delinquency ratio remained at a low level of 0.13%, and the rescheduled loan ratio remained unchanged at nearly 0%.
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