Home > Community > Financial Markets > TABLE-HK Sept mortgage loan approvals up 130 pct yr/yr

TABLE-HK Sept mortgage loan approvals up 130 pct yr/yr

Published: 27 Oct 2009 01:44:43 PST

HONG KONG, Oct 27 - New mortgage loans approved in Hong Kong in September rose 129.7 percent from a year earlier, but were down 2.5 percent from August, figures from the Hong Kong Monetary Authority (HKMA) showed.

New loans approved in September totalled HK$33.3 billion ($4.27 billion), compared with HK$34.2 billion in the previous month, the HKMA said.

The decline was mainly due to reductions of HK$1.2 billion or 24.6 percent in primary market transactions and of HK$0.8 billion or 3.4 percent in approvals for secondary market transactions, the HKMA added.

Following is a summary of data from the authority for September compared with August:

- The number of new mortgage applications increased 0.4 percent to 19,519 from the previous month's 19,441.

- The value of new mortgage loans drawn down was HK$23.3 billion, up 17 percent from the previous month.

- The outstanding value of mortgage loans increased by 1.3 percent from the previous month to HK$626 billion.

- The mortgage delinquency ratio was stable at 0.05 percent. ($1=HK$7.8)