Hong Kong mortgage loans down 21.2% in April

The number of mortgage applications also dropped by 27.6% to 8,368 applications.

Mortgage loans approved by Hong Kong lenders decreased 21.2% in April, as the number of applications also dwindled, according to data from the Hong Kong Monetary Authority (HKMA).

Loans approved totaled HK$35.4b in April. The number of mortgage applications in April also fell to 8,368 applications, a 27.6% decrease from March’s numbers.

Mortgage to secondary market transactions dropped by 29% to HK$21.3b during the month, whilst mortgages for refinancing also fell by 17.5% to HK$4.4b.

Loans to primary market transactions rose by 0.8% to HK$9.7b.

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The outstanding value of mortgage loans increased by 0.2% month-on-month to HK$1.82t as at end-April.

Delinquency ratio remained unchanged at 0.06%.

The rescheduled loan ratio also reportedly remained unchanged at nearly 0%.