, Hong Kong
Mongkok, Hong Kong (Photo by Gigi Ling via Unsplash).

Hong Kong’s mortgage loan applications, approvals rose in July

Mortgage loans for primary market and secondary market transactions both increased.

Mortgage loans approved in Hong Kong rose by 11.2% in July to HK$30.6b, according to data from the Hong Kong Monetary Authority (HKMA).

Mortgage loans for primary market transactions increased by 16.4% to HL$10.8b, whilst those financing secondary transactions climbed 10.5% to HK$16.6b.

Mortgage loans for refinancing dipped 0.2% to HK$3.2b

The number of mortgage applications in July rose to 9,005, 4.9% higher than a month earlier.

Outstanding value of mortgage loans rose 0.1% month-on-month to HK$1.89t by end-July.

The mortgage delinquency ratio stood at 0.13%.

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