Hong Kong Oct. New Mortgage Loans Drown Down Falls - HKMA

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Wednesday, the Hong Kong Monetary Authority said in a report that the new mortgage loans drown down decreased 9.5% month-on-month in October, in contrast to a 17% increase in the previous month.

The value of new mortgage loans drown down amounted to HK$21.1 billion in October, down from HK$23.3 billion in September.

The new loans approved fell 13.1% to HK$29 billion, after falling 2.5% in September. Approvals for primary market transactions declined 34.5% in October, while approvals for secondary market transactions fell 12.7%. Refinancing loans approvals were down 0.6%. At the same time, the number of new applications dropped to 16,461 from 19,519 in September.

Meanwhile, the outstanding value of mortgage loans increased by 0.9% to HK$631.6 billion in October.

"Both the mortgage delinquency ratio and the rescheduled loan ratio fell slightly to 0.04% and 0.10% respectively in October." the HKMA said.

Wednesday, the Hong Kong Monetary Authority said in a report that the new mortgage loans drown down decreased 9.5% month-on-month in October, in contrast to a 17% increase in the previous month. (Market News Provided by RTTNews)