July 29, 2016 / 8:51 AM / a year ago

Hong Kong's drawndown mortgage loans rise 15.8 pct in June vs May

July 29 (Reuters) - New mortgage loans drawn down in Hong Kong totalled
HK$17.8 billion ($2.30 billion) in June, up 15.8 percent from a month earlier,
Hong Kong Monetary Authority (HKMA) data showed on Friday.
    Following is the breakdown of data from the authority:
 
                                        June        May     M/M Pct
                                                             Change
 New loans drawn down (HK$ mln)       17,769     15,340        15.8
                                                                   
 New loan approvals (HK$ mln):                                     
 - Primary market                      4,637      4,985        -7.0
 - Secondary market                   12,649     12,394         2.1
 - Refinancing                         4,988      5,637       -11.5
 TOTAL                                22,274     23,016        -3.2
                                                                   
 No. of applications (cases)           9,844      9,961        -1.2
                                                                   
 Outstanding loans (HK$ mln):      1,084,458  1,080,989         0.3
 - Delinquency ratio (pct)                                         
 (more than 3 months)                   0.04       0.04            
 - Rescheduled loan ratio (pct)         0.02       0.00            
                                                                   
 Proportion of new mortgage loans                                  
 priced with reference to:                                         
 -best lending rates (pct)               4.9        6.9            
 -HIBOR (Hong Kong interbank            89.8       85.8            
 offered rates) (pct)                                    
   *with majority priced within the range of 2.00 and 2.25 percent.
    
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($1 = 7.7551 Hong Kong dollars)

 (Reporting by Christina Lo; Editing by Subhranshu Sahu)

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