The value of residential mortgage loans approved in May was $26.6 billion, a 5.3% increase compared with April, the Monetary Authority announced today.
Mortgage loans financing primary market transactions decreased 4.2% to $8.9 billion, while those financing secondary market transactions increased 7.1% to $14.6 billion.
Loans for refinancing increased 33.7% to $3 billion.
Mortgage loans drawn down during May amounted to $16.2 billion, a 5.3% drop from April.
The number of mortgage applications in May rose 5% month-on-month to 8,187.
The outstanding value of mortgage loans increased month-on-month by 0.1% to $1.884 trillion at end-May.
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Financial Secretary Paul Chan will depart for a visit to Seoul, Korea, tomorrow and return to Hong Kong on Thursday.
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