Statistics

HK's new mortgage loans drop 3.2% in Jan

(Xinhua)
Updated: 2011-02-26 15:00

HONG KONG - New mortgage loans in Hong Kong dropped by 3.2 percent month on month in January to HK$28 billion, the Hong Kong Monetary Authority said on Friday.

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Approvals for primary market transactions and refinancing transactions decreased by 4.6 percent and 25.7 percent respectively, while those for secondary market transactions increased by 5.3 percent.

The number of new mortgage loan applications jumped 35.1 percent from December to 19,474 cases in January.

The outstanding value of mortgage loans increased by 0.7 percent month-to-month to HK$745.8 billion.

Both the mortgage delinquency ratio and rescheduled loan ratio remained unchanged at 0.01 percent and 0.04 percent respectively in January.