(HONG KONG) New mortgage loans approved in Hong Kong in May rose by 34.3 per cent from a year earlier and increased 0.1 per cent in value terms from April, figures from the Hong Kong Monetary Authority (HKMA) showed.
New loans approved in May totalled HK$37.8 billion (S$6.74 billion), the HKMA said yesterday. Month-on-month figures are not seasonally adjusted.
Loan approvals for new property rose 0.7 per cent month-on-month in May, while loan demand for mortgages on existing property fell 4.5 per cent. Approvals for refinancing loans increased by 10.5 per cent against April.
Following is a summary of data from the authority for May compared with April: The number of new mortgage applications fell 11.1 per cent to 20,283 from the previous month's 22,818.
The value of new mortgage loans drawn down increased by 12.7 per cent to HK$28.9 billion.
The outstanding value of mortgage loans increased 1.5 per cent to HK$675.6 billion.
The mortgage delinquency ratio and re-scheduled loan ratio were steady at 0.03 per cent and 0.06 per cent, respectively. -- Reuters
Source: Business Times, 29 Jun 2010
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