According to the WiseNews app, Wang Meifeng, General Manager of Zhongyuan Mortgage, pointed out that in September, there were 468 cases of bank mortgage registrations in Hong Kong, only slightly lower than the historical low of 463 cases in August, ranking as the second lowest level on record. The main reason is that in the second quarter, banks had previously reduced mortgage incentives, especially for refinancing. As the incentives decreased, the number of refinancing applications significantly decreased, causing the figures in the third quarter to fall and remain at a low level.

Wang Meifeng indicated that in recent months, the attitude of banks towards mortgage loans has shifted back to positive, with interest rates decreasing due to rate cuts. Mortgage loans have also been relaxed across the board, with maximum mortgage ratios being increased to 70% and the maximum debt-to-income ratio set uniformly at 50%. This has made it easier for some units that need refinancing to obtain approval compared to before, enhancing the incentives for refinancing. This has led to a slight increase in recent refinancing applications, expected to push the low refinancing volume in the fourth quarter. However, compared to the refinancing boom of the previous year, the incentives for refinancing are still weak, and even if refinancing volumes increase in the future, they will still remain at a low level.

Data shows that in September, there were 468 cases of bank mortgage registrations, with HSBC (00005) market share decreasing by 6.6 percentage points to 24.1% (113 cases), remaining in the top position for 4 consecutive months. Bank of China Hong Kong (02388) increased its market share by 3.3 percentage points to 10.9% (51 cases), rising 2 ranks to second place, with the highest monthly increase. Hang Seng Bank (00011) increased its market share by 2.5 percentage points to 10.5% (49 cases), ranking third. Industrial and Commercial Bank of China Asia's market share decreased by 2 percentage points to 9.2% (43 cases), dropping 2 ranks to fourth place. The total market share of the top 4 banks for mortgage registrations in September decreased by 2.8 percentage points to 54.7%.

Only 6765 cases of mortgage registrations were recorded in the first 9 months, a 36.2% decrease compared to the same period last year. Bank of China Hong Kong recorded 1864 mortgage registrations during the period, a 3.5% decrease year-on-year, with a market share of 27.6%, surpassing HSBC to rank first. HSBC's mortgage market share is 18.7%, down 1 rank to second place, with a 46.2% decrease in registrations to 1266 cases. Industrial and Commercial Bank of China Asia rose 1 rank to third place, with a mortgage market share of 15.1% and an 18.7% decrease in registrations. Bank of East Asia rose 1 rank to fourth place with an 8.4% market share, and a 46.3% decrease in registrations. Hang Seng Bank dropped 2 ranks to fifth place, with a market share of 7.3% and a 67.8% decrease in registrations.