Published:
Mortgage loans down 12.2% to $21.8b
Applications also fell by 12.2% MoM to 5,919.
The value of residential loans approved in August reached $21.8b, a 12.2% decrease from July, the Hong Kong Monetary Authority announced.
Mortgage loans for primary market transactions fell by 11.7% to $7.6b, whilst those for secondary market transactions dropped 13.7% to $11.8b. Loans for refinancing rose 5.6% to $2.5b.
In August, the amount of mortgage loans drawn down decreased by 2.9% month-on-month (MoM) to $15.9b. Mortgage applications also fell by 12.2% MoM to 5,919.
In contrast, the outstanding value of mortgage loans increased by 0.1% MoM, reaching $1.87t by the end of the month.
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