February 28, 2018 / 9:23 AM / 3 months ago

TABLE-Hong Kong's January drawndown mortgage loans rise 18.2 pct m/m

    Feb 28 (Reuters) - New mortgage loans drawn down in Hong Kong totalled
HK$27.5 billion ($3.51 billion) in January, up 18.2 percent from a month
earlier, Hong Kong Monetary Authority (HKMA) data showed on Wednesday.
    Following is the breakdown of data from the authority:
 
                             2018        2017                
                             Jan         Dec        M/M Pct
                                                    Change
 New loans drawn down (HK$   27,469      23,236     18.2
 mln)                                               
                                                    
 New loan approvals (HK$                            
 mln)                                               
             Primary market  6,641       4,655      42.7
           Secondary market  22,862      15,628     46.3
               Refinancing   8,615       7,517      14.6
 TOTAL                       38,118      27,800     37.1
                                                    
 No. of applications         14,179      10,520     34.8
 (cases)                                            
                                                    
 Outstanding loans (HK$      1,213,655   1,205,828  0.6
 mln)                                               
 Delinquency ratio (pct)                            
 (more than 3 months)        0.02        0.03       
 Rescheduled loan ratio      0.02        0.02       
 (pct)                                              
                                                    
 Proportion of new mortgage                         
 loans                                              
 priced with reference to:                          
   best lending rates (pct)  2.7         2.8        
 HIBOR (Hong Kong interbank  86.2        89.8       
       offered rates) (pct)                         
 
    For details, click bit.ly/2EXRcZ1

($1 = 7.8273 Hong Kong dollars)
    

 (Reporting by Twinnie Siu; Editing by Subhranshu Sahu)
  
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