Home loans for primary deals drop by 23.9pc in AprilLocal | 29 May 2020 5:04 pm
The number of mortgage applications in April fell month-on-month by 16.8 percent to 10,838, the Hong Kong Monetary Authority said.
Mortgage loans approved in April fell by 2.1 percent compared with March to HK$32.4 billion. Among these, mortgage loans financing primary market transactions fell by 23.9 percent to HK$5.9 billion and those financing secondary market transactions increased by 9.1 percent to HK$20.7 billion.
Mortgage loans for refinancing decreased by nine per cent to HK$5.9 billion.
Mortgage loans drawn down during April decreased by 16.6 per cent compared with March to HK$17.3 billion.
The ratio of new mortgage loans priced with reference to HIBOR increased from 88.7 per cent in March to 90.5 per cent in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 8.2 per cent in March to 6.4 per cent in April.