|
There were another 300 cases of residential mortgage loans in negative equity for the quarter ending September, bringing the total to 9,000 cases with a combined value of $16 billion, the Monetary Authority says.
Despite the recent surge, the number of residential mortgage loans in negative equity has fallen 91% compared with the peak of about 106,000 cases at the end of June 2003.
The estimated unsecured portion of these negative-equity residential mortgage loans remained unchanged at $2 billion. Their overall loan-to-value ratio was 114%.
The loan quality of the negative-equity residential mortgage loans improved further, with the three-month delinquency ratio falling to 0.96% from 1.38% in the second quarter.
The weighted average interest rate of the outstanding negative-equity residential mortgage loans was 0.86% below the best lending rate.
Go To Top
|
