In July 2024, the Hong Kong Monetary Authority reported a slight increase in mortgage applications by 0.7% to 6,740. Mortgage loans approved rose by 1.5% to HK$24.8 billion, with primary market financing up 0.7% and secondary market financing down 1%. Refinancing loans saw a significant increase of 21.5% to HK$2.5 billion. However, drawn-down loans dropped sharply by 32.3% to HK$16.4 billion. The proportion of new loans linked to HIBOR decreased to 89.8%, while those tied to best lending rates increased to 4.6%. The outstanding mortgage value inched up by 0.1% to HK$1,868 billion, with both delinquency and rescheduled loan ratios remaining stable at 0.1% and nearly 0%, respectively.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/08/20240830-5/