The residential mortgage survey for May 2025 showed an increase in mortgage applications and loans approved, with primary market transactions decreasing, secondary market transactions increasing, and refinancing loans surging. The HIBOR ratio increased, while the delinquency ratio remained low.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On May 31, 2025, the Hong Kong Monetary Authority released its findings on the residential mortgage survey for the month of May.
Notably, there was a 5% rise in mortgage applications month-over-month, with a total of 8,187 applications in May.
The approvals of mortgage loans increased by 5.3% from April to HK$26.6 billion in May. This growth was driven by a 7.1% increase in loans financing secondary market transactions, while loans financing primary market transactions decreased by 4.2%.
Refinancing mortgage loans saw a significant increase of 33.7%, reaching HK$3 billion in May.
The total amount of mortgage loans drawn down decreased by 5.3% from April to HK$16.2 billion in May.
The proportion of new mortgage loans priced with reference to HIBOR rose from 91.8% in April to 93.4% in May, while the proportion of loans priced with reference to best lending rates decreased from 2.3% to 1.9%.
The outstanding value of mortgage loans increased by 0.1% month-on-month to HK$1,884.2 billion by the end of May.
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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