Hong Kong October Mortgage Refinancing Registrations Drop 6% MoM, Still Second-Highest This Year

Stock News11-24

According to data from the research department of a leading mortgage brokerage, Hong Kong recorded 624 bank mortgage refinancing registrations in October 2025, marking a 6.4% decline from September's 18-month high of 667 cases. Despite the monthly dip, this remains the second-highest monthly figure this year.

The refinancing market has shown modest recovery recently, with registrations exceeding 600 cases for three consecutive months. This rebound is primarily attributed to rising property valuations driven by recent home price increases, coupled with lower mortgage rates that have stimulated some homeowners' refinancing and cash-out needs.

Analyzing the broader market performance, the first ten months of 2025 saw cumulative refinancing registrations reach 5,810 cases, representing a 20% year-on-year decline compared to 2024. Although recent monthly registrations have improved from the 500-range to over 600 cases, they remain subdued compared to the historical average of over 1,000 cases during more active periods.

The subdued figures reflect the market's continued sluggishness in 2025. Notably, banks raised mortgage rates in 2023, leaving some existing homeowners with lower interest rates than current market offerings—reducing the incentive for refinancing.

Among lenders, BOC HONG KONG (02388) recorded 150 refinancing registrations in October, down 16.7% from September. Despite a 3-percentage-point monthly decline in market share to 24%, the bank maintained its leading position in the monthly refinancing market.

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Notably, banks raised mortgage rates in 2023, leaving some existing homeowners with lower interest rates than current market offerings—reducing the incentive for refinancing.</p>\n<p>Among lenders, BOC HONG KONG (02388) recorded 150 refinancing registrations in October, down 16.7% from September. 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Despite the monthly dip, this remains the second-highest monthly figure this year.\nThe refinancing market has shown modest recovery recently, with registrations exceeding 600 cases for three consecutive months. This rebound is primarily attributed to rising property valuations driven by recent home price increases, coupled with lower mortgage rates that have stimulated some homeowners' refinancing and cash-out needs.\nAnalyzing the broader market performance, the first ten months of 2025 saw cumulative refinancing registrations reach 5,810 cases, representing a 20% year-on-year decline compared to 2024. Although recent monthly registrations have improved from the 500-range to over 600 cases, they remain subdued compared to the historical average of over 1,000 cases during more active periods.\nThe subdued figures reflect the market's continued sluggishness in 2025. 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