The decline in new loans approved was mainly due to decreases of HKD0.1 billion (-1.2%) in approvals for secondary market transactions and of HKD0.3 billion (-9.2%) in approvals for refinancing loans. The number of new applications also decreased by 16.7%.
The proportion of new loans approved at more than 2.5% below the best lending rate increased to 90.3% from 85.2% in May, while the proportion of new approvals priced with reference to rates other than the best lending rate or fixed rates decreased to 6.2% from 11.3% over the same period.
The outstanding value of mortgage loans increased by 0.7% to HKD536 billion, the regulator revealed.
