Hong Kong end-Dec mortgage loan drawdowns up 32.7 pct from end-Nov - HKMA |
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Published
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Thu, 25 Jan 2007 11:13
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HONG KONG (XFN-ASIA) - Hong Kong's new home mortgage loan drawdowns stood at 14 bln hkd at end-December, up 32.7 pct from a month earlier, the Hong Kong Monetary Authority (HKMA) said.The loan drawdown was the highest level achieved in 18 months.New residential loans approved by the end of December were, however, down 14.9 pct at 13.3 bln hkd, the HKMA said.The HKMA attributed the decline to primary market transactions, which fell 15.6 pct during the period.Approvals of transactions in the secondary market fell by 9.0 pct, and deals involving loan refinancing were down 26 pct.The number of new applications also fell 22.2 pct from a month earlier.The outstanding value of mortgage loans increased by 0.6 pct to 529.4 bln hkd.The December mortgage delinquency ratio was up 0.20 pct from 0.19 pct in November, the HKMA added.(1 usd = 7.8 hkd)leonora.walet@xfn.comlw/km
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Hong Kong Exchange Fund end-Dec foreign assets 985 bln hkd, up 3.5 bln from Nov 