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The number of residential mortgage loans in negative equity fell a further 400 cases to about 8,800 in the second quarter, with an aggregate value of $15 billion, the Monetary Authority says.
Compared with the peak of about 106,000 cases at end-June 2003, the number has fallen 92%.
The estimated unsecured portion of these loans was little changed at $2 billion. Correspondingly, the loan-to-value ratio of negative equity residential mortgage loans remained unchanged at 113%.
The three-month delinquency ratio of the negative equity residential mortgage loans rose to 1.13% from 1.04% at the end of March.
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