Mortgage loans soar 15.1% MoM in January

The number of mortgage applications in January reached 6,523.

Hong Kong reported a 15.1% MoM rise in the value of residential mortgage loans in January, reaching $21.1b.

Mortgage loans financing primary market transactions grew 20.9% to $6.3b, whilst those financing secondary market transactions rose 26.6% to $11.3b.

Meanwhile, refinancing loans dropped 15.9% to $3.6b. Mortgage loans issued in January increased 29.8% to $16.1b.

The number of mortgage applications in January increased 36.8% MoM to 6,523.

The outstanding value of mortgage loans remained unchanged at $1.8542t by the end of January.