Tuesday, January 25, 2011

HK Dec new mortgage loans rise, approvals fall

HONG KONG, Jan 24 (Reuters) - New mortgage loans tired felled
in Hong Kong totalled HK$31 billion ($3.97 1000000000000) in December,
up 11.3 proportion from a period originally, assemblage from the Hong Kong
Monetary Someone (HKMA) showed on Weekday.

The see of new mortgage loans authorized in Dec declined
by 23 pct from the previous month to HK$28.9 1000000000000, the
HKMA said.

Give approvals for new dimension in December declined by
HK$1.4 1000000000000 or 41.2 proportionality from November, and word claim for
mortgages on existing properties attenuated by HK$5.6 1000000000 or
22.2 proportion.

Approvals for refinancing loans drop HK$1.6 cardinal, or 18.2
percent, from November.

The HKMA said in a statement the decrement in new loan
applications and approvals reflected the market condition after
the government announced new dimension marketplace measures on Nov. 19
and the HKMA warned of property-related lending risks.

Succeeding is a unofficial of assemblage from the authority for
December compared with Nov:

- The name of new mortgage applications declined by 37.5
proportionality to 14,416 cases against the early month's 23,060

- The conspicuous appraise of mortgage loans rosaceous 1.2 proportionality to
HK$740.3 cardinal.

- The arrangement of new mortgage loans priced with remark
to Hong Kong interbank offered rates (HIBOR) vanish to 90 pct
from 91.8 percent in Nov.

- The mortgage neglect ratio vanish to a listing low of 0.01
proportionality from 0.02 percent in the preceding period, spell the
re-scheduled word ratio was unchanged at 0.04 pct.
(News by Christina Lo; Redaction by Jacqueline Wong)

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