Mortgage loans drawn down in April dropped 29.4% month-on-month to $20.6 billion, the Monetary Authority announced today.
Mortgage loans approved decreased 18.9% to $22.8 billion. Among these, mortgage loans for primary market transactions dropped 11.5% to $6.1 billion, and those for secondary market transactions fell 22.3% to $12.1 billion.
Mortgage loans for refinancing decreased 18.4% to $4.6 billion, while mortgage applications dropped 4.1% to 10,007.
New mortgage loans priced with reference to best lending rates increased from 12.5% to 13.1%, with the majority in the price range of 2% to 2.25%. The portion priced with reference to HIBOR decreased from 85.5% in March to 84.8% in April.
The mortgage delinquency ratio remained unchanged at 0.03%, while the rescheduled loan ratio was also unchanged at nearly 0%.
