HK's negative-equity mortgages drop

21:42, February 01, 2010      

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The estimated number of residential mortgage loans in negative equity fell to 466 cases at the end of December in 2009 from 835 at the end of September, the Monetary Authority of Hong Kong announced on Monday.

The aggregate value dropped to 700 million HK dollars (about 90 million U.S. dollars) from 1.5 billion HK dollars (about 193 million U.S. dollars). The unsecured portion of these loans fell to 100 million HK dollars during the three-month period.

The three-month delinquency ratio fell to 0.57 percent from 0. 82 percent owing to a faster decline in the delinquent amount than that in the total amount of residential mortgage loans in negative equity.

Source: Xinhua
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