New mortgage loans drawn down in June rose 6.5% to $30.8 billion and new loans approved fell 6.2% to $35.4 billion, according to a Monetary Authority monthly survey.

Approvals for secondary market transactions fell by $700 million or 3.1%, while those for refinancing loans dropped by $2.4 billion or 21.9%. They were partially offset by a rise of $800 million, or 16.3%, in approvals for primary market transactions. New applications rose 8.2% to 21,947.

About 15% of the new loans approved were priced with reference to best lending rates in the month, with the majority in the price range of 2% to less than 2.25%. The proportion of new loans priced with reference to interbank best lending rates rose to 83.9% from 82.7% in May.

The outstanding value of mortgage loans grew 0.6% to $679.5 billion. The mortgage delinquency ratio remained at 0.03% while the rescheduled loan ratio edged down to 0.05% in June.