The Hong Kong Monetary Authority published its residential mortgage survey for September 2026, showing declines in applications, approvals and drawdowns, while refinancing increased. Mortgage applications fell 10.5% from August to 7,560, and loans drawn down dropped 22.8% to HKD 25.3 billion. Approvals declined by a smaller 1.1% to HKD 31.8 billion. The decline in approvals reflected weaker lending for property purchases. Approved loans for primary market transactions fell 6.8% to HKD 8.5 billion, while those for secondary market transactions decreased 5.7% to HKD 14.4 billion. Refinancing approvals rose 14.6% to HKD 8.9 billion, partially offsetting those declines. The share of new mortgages priced against the Hong Kong Interbank Offered Rate (HIBOR) fell to 52.7% from 57% in August. The share linked to best lending rates decreased to 1.3% from 1.9%. Outstanding mortgage loans increased 0.2% over the month to HKD 1,980.3 billion at the end of September. The mortgage delinquency ratio stood at 0.11%, while the rescheduled loan ratio remained unchanged at nearly 0%.
HKMA reports 10.5% fall in mortgage applications and 22.8% drop in drawdowns in September
The Hong Kong Monetary Authority’s September 2026 mortgage survey recorded a 10.5% monthly decline in applications to 7,560 and a 22.8% fall in drawdowns to HKD 25.3 billion. Approvals decreased 1.1% to HKD 31.8 billion, as increased refinancing partly offset lower lending for property purchases. Outstanding mortgage loans rose 0.2%, while the delinquency ratio stood at 0.11%.