LENDING & CREDIT | Staff Reporter, Hong Kong

Hong Kong's mortgage loans up 7.4% in November 2020

The number of mortgage applications rose to 11,375 during the month.

Residential mortgage loans approved in Hong Kong rose to almost $4.84b (HK$37.2b) in November 2020, 7.4% month-on-month (MoM) higher than October’s figures, according to data from the local Monetary Authority.

Volume-wise, the number of mortgage applications in November increased by 4.3% to 11,375 compared to the previous month.

The outstanding value of mortgage loans increased by 0.6% MoM to $202.77b (HK$1.572t) at the end-November.

By category, mortgage loans financing primary market transactions jumped 11.7% MoM to $786.8m (HK$6.1b). Loans financing secondary market transactions climbed 7.5% MoM to about $3.42b (HK$26.5b).

Meanwhile, mortgage loans for refinancing rose by 2% to $606m (HK$4.7b), whilst loans drawn down during the month went up 14.7% MoM to $3.29b (HK$25.5b).

(US$1 = HK$7.75)

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