Biz News Flash

HK's April new mortgage loans fall 12%

(Xinhua)
Updated: 2011-05-24 13:22

HONG KONG -- The Hong Kong Monetary Authority announced on Monday new mortgage loans dropped 12.1 percent from March to HK$26.9 billion in April.

New loans approved in April fell 36.7 percent to HK$27.6 billion.

Approvals for primary market transactions and secondary market transactions declined 22.1 percent and 38.8 percent respectively, and those for refinancing transactions were down 39.2 percent.

The number of new applications also decreased 36.2 percent in April to 14,782.

The outstanding value of mortgage loans rose 1.1 percent to HK$770. 2 billion.

The mortgage delinquency ratio increased slightly to 0.02 percent while the rescheduled loan ratio remained unchanged at 0. 03 percent in April.