中原按揭：香港11月新批按保量创逾7年新低 金额创逾6年新低

Core Insights - The mortgage insurance market in Hong Kong is experiencing a significant decline in both the number of new applications and the total amount insured, attributed to a decrease in demand for high loan-to-value (LTV) mortgage insurance as LTV ratios have been relaxed [1][2] Group 1: Mortgage Insurance Trends - In November 2025, the number of new mortgage insurance applications fell by 10.1% month-on-month to 560, with the total amount decreasing by 9.9% to HKD 2.8 billion [1] - The number of new mortgage insurance applications for the same period dropped by 8.6% month-on-month to 1,068, marking the lowest level in over seven years, with the total amount down 6.7% to HKD 5.6 billion [1] - The overall mortgage insurance usage ratio has decreased from over 30% before the policy relaxation to an average of about 15% this year [1] Group 2: Market Dynamics - The overall property market showed improved transaction activity in the fourth quarter, but the usage of mortgage insurance remains low [1] - The increase in the proportion of investment buyers, who typically do not require high LTV mortgage insurance, has contributed to the low penetration rate of mortgage insurance in the overall mortgage market [1] - For the first 11 months of 2025, new mortgage insurance applications totaled 6,594, a decline of 25.2% compared to the same period in 2024, with the total amount insured at HKD 32.7 billion, down 27.7% year-on-year [2]