Mortgage applications dip 3.6% in June

But loans approved increased 3%.

The number of mortgage applications dropped 3.6% to 15,326 in June, compared to the previous month, the Hong Kong Monetary Authority reported.

Mortgage loans approved in the same month increased 3% month-on-month to $58.4b.

Of which, mortgage loans financing secondary market transactions accounted for $39.2b, even as it decreased 3.3% month-on-month (MoM).

Those financing primary market transactions rose 15.9% to $8.4b, whilst refinancing went up by 21.6% to $10.8b.

Mortgage loans drawn down during the month increased by 9.5% to HK$39.1b.

The ratio of new mortgage loans priced with reference to Hong Kong Interbank Offered Rate or HIBOR decreased to 96.4% in June from 96.8% in May.

The ratio of new mortgage loans priced with reference to best lending rates increased to 1.4% in June from 1% in May.

The outstanding value of mortgage loans increased MoM by 1% to HK$1.64b at end-June.

The mortgage delinquency ratio remained unchanged at 0.04% and the rescheduled loan ratio remained unchanged at nearly 0%.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!