Residential mortgage loans in negative equity fell by 17 cases, to 936, with an aggregate value of $1.7 billion in the year's second quarter, according to the Monetary Authority's latest survey.

Compared with the peak of 106,000 cases at the end of June 2003, the number has plunged 99%.

The estimated unsecured portion of these loans remained unchanged at $200 million. The loan-to-value ratio of the negative equity fell to 112% from 118%.