Published:
Mortgage loans approval increases 2.4% MoM in April
The number of mortgage applications decreased by 7.8% MoM.
The total value of residential mortgage loans approved in April increased 2.4% month-on-month to $25.3b, the Hong Kong Monetary Authority announced.
Despite the overall increase, loans financing primary market transactions decreased 7.5% to $9.3b whilst refinancing loans sank 23.5% to $2.3b. However, loans for secondary market transactions increased 17.6% to $13.7b.
Mortgage loans drawn down rose 7.7% from the previous month to $17.1b. Meanwhile, the number of mortgage applications decreased by 7.8% to 7,795.
As of end-April, the outstanding value of mortgage loans edged up 0.2% to $1.88t.
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