Mortgage applications down 14.2% to 10,520 in December

The value of approved mortgage loans also decreased to $27.8b.

The number of mortgage applications decreased 14.2% MoM to 10,520 in December, according to residential mortgage survey released by the Hong Kong Monetary Authority.

Correspondingly, the value of approved mortgage loans fell 22.3% MoM to $27.8b in December. 

Amongst these, mortgage loans financing primary market transactions decreased by 33.6% to $4.7b and those financing secondary market transactions decreased by 16.3% to $15.6b. Mortgage loans for refinancing decreased by 25.6% to $7.5b.

However, the outstanding value of mortgage loans rose marginally by 0.6% to $1205.8b at the end of the year.