Mortgage loans approval up 9.4% to $31.4b in September.

Mortgage applications for the month dipped by 1.1%.

The value of residential mortgage loans approved in September was $31.4b, a 9.4% increase compared with August, the Monetary Authority of Hong Kong said.

Mortgage loans financing primary market transactions increased 17.5% to $12.6b, whilst those financing secondary market transactions rose 6.1% to $15.5b.

Loans for refinancing decreased 2.4% to $3.2b.

Mortgage loans drawn down during September amounted to $20.9bn, a 9.7% rise from August.

The number of mortgage applications in September dropped 1.1% month on month to 8,316.

The outstanding value of mortgage loans increased 0.2% month-on-month to $1.89t at the end of September.