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HK Residential Mortgage Loans in Negative Equity Tops 32K Cases in End-1Q24, Up 6,910 QoQ
Recommend 5 Positive 8 Negative 11 |
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The Hong Kong Monetary Authority announced that the estimated number of residential mortgage loans (RMLs) in negative equity increased to 32,073 cases at end-March 2024 from 25,163 cases at end-December 2023. These cases were mainly related to bank staff housing loans or RMLs under mortgage insurance programme, which generally have a higher loan-to-value ratio. The aggregate value of RMLs in negative equity increased to HK$165.3 billion at end-March 2024 compared with HK$131.3 billion at end-December 2023. The unsecured portion of these loans increased to HK$11.2 billion at end-March 2024 from HK$7.3 billion at end-December 2023. The three-month delinquency ratio of RMLs in negative equity increased to 0.06% at end-March 2024 from 0.03% at end-December 2023. AAStocks Financial News |
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