Mortgage loans approved in December down 37.1%

The number of applications fell as well.

The Hong Kong Monetary Authority announced that mortgage loans drawn down during December decreased by 10.8% compared with November to HK$18.9 billion.

Meanwhile mortgage loans approved in December decreased by 37.1% compared with November to HK$15.2 billion.

Among these, mortgage loans financing primary market transactions decreased by 44.7% to HK$3.1 billion and those financing secondary market transactions decreased by 38.4% to HK$9.5 billion.

Mortgage loans for refinancing, on the other hand, decreased by 17.4% to HK$2.6 billion.

The HKMA said the number of mortgage applications in December decreased by 29.9% month-on-month to 7,449.