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RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Mortgage loans grow to $1.19b in October

However, mortgage applications and approved loans fell.

The outstanding value of mortgage loans grew marginally 0.3% MoM to $1,190b in October, according to the residential mortgage survey released by the Hong Kong Monetary Authority.

However, mortgage applications and approved mortgage loans decreased 0.8% to 11,280 applications and 1.6% to $29.1b respectively.

Mortgage loans financing primary market transactions dipped 4.5% to $6b whilst those financing secondary market transactions increased 3.6% to $14.4b.

Mortgage loans for refinancing fell 7.4% to $8.6b. 

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