The number of mortgage applications rose to 11,375 during the month.
Residential mortgage loans approved in Hong Kong rose to almost $4.84b (HK$37.2b) in November 2020, 7.4% month-on-month (MoM) higher than October’s figures, according to data from the local Monetary Authority.
Volume-wise, the number of mortgage applications in November increased by 4.3% to 11,375 compared to the previous month.
The outstanding value of mortgage loans increased by 0.6% MoM to $202.77b (HK$1.572t) at the end-November.
By category, mortgage loans financing primary market transactions jumped 11.7% MoM to $786.8m (HK$6.1b). Loans financing secondary market transactions climbed 7.5% MoM to about $3.42b (HK$26.5b).
Meanwhile, mortgage loans for refinancing rose by 2% to $606m (HK$4.7b), whilst loans drawn down during the month went up 14.7% MoM to $3.29b (HK$25.5b).
(US$1 = HK$7.75)
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