Summary
- Hong Kong Monetary Authority (HKMA) reports a significant decline in residential mortgage applications in May 2024.
- Despite the drop in applications, mortgage loans approved increased by 8.8% compared to April.
- Drawn down mortgage loans surged by 27% in May, indicating a strong uptake in approved loans.
- There were slight shifts in loan pricing, with changes in the ratio of loans priced with HIBOR and best lending rates.
