The number of mortgage applications decreased 16.5% to 13,027.
Mortgage loans approved in April dropped 13.6% month-on-month to $31.9 billion, according to the Monetary Authority.
Mortgage loans financing primary market transactions decreased 17.8% to $6.2 billion, while those financing secondary market transactions dropped 8.9% to $17.3 billion. Those for refinancing dropped 19.3% to $8.4 billion.
Mortgage loans drawn down during the month decreased 15% to $21.2 billion.
The outstanding value of mortgage loans rose 0.4% month-on-month to $1.1422 trillion at the end of April.
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