, Hong Kong

New mortgage applications drop 15.7% MoM in December

Applications went down to 10,810 from 12,828 in November.

New mortgage applications dropped by 15.7% in December 2021 to 10,810, data from Hong Kong Monetary Authority showed.

In November 2021, the number of applications reached 12,828.

The number and value of mortgage loans approved in December were also lower than November, declining by 11.1% month-on-month (MoM) to 9,000 and 13.7% MoM to $44.3b, respectively.

Financing for the primary market (37% to $8.8b), secondary market (5.2% to $24.7b), and refinancing (4.3% to $10.8b) all decreased in December 2021, as well.

This pushed the value of mortgage loans drawn down during December up by 8.8% to $36.3b.

The ratio of new mortgage loans priced with reference to HIBOR decreased to 97.2% in December; with reference to best lending rates, however, the ratio increased to 1.2%.

Meanwhile, the outstanding value of mortgage loans increased by 1% MoM to $1,736.4b.

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!