The number of residential mortgage loans in negative equity fell by 369 cases, to 8,444 cases with an aggregate value of $14 billion in the fourth quarter last year, the Monetary Authority says.

Compared with the peak of about 106,000 cases at the end of 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 the negative-equity residential mortgage loans remained unchanged at 113%.