Negative equity mortgages in June fell to 48

Hong Kong had no loans in negative equity with delinquencies of more than three months since the first quarter.

The estimated number of residential mortgage loans in negative equity decreased from 59 cases at the end of March to 48 at the end of June, the Monetary Authority said on Monday in its report.

The aggregate value of loans in negative equity declined to $58 million at the end of June compared with $72 million at the end of March.

The unsecured portion of these loans fell to $18 million from $22 million.

Since the first quarter, there have been no loans in negative equity with delinquencies of more than three months.