Zhitong Financial APP learned that on June 12th, Cao Deming, the chief vice president of the Lianluo Mortgage Intermediary, said that after the withdrawal of harsh measures by the Hong Kong government, the property market trading rebounded, and the use of newly built properties purchased in the early years began prompting a significant increase in the number of mortgage applications. However, after the frenzy period, there were signs of a slowdown in the property market. With the market trading repeatedly falling back, it is expected to affect the performance of mortgages and mortgage insurance in the third quarter.

According to the research department of Lianluo Mortgage Intermediary and the company overview of Hong Kong Mortgage Securities, the number of newly approved mortgage insurance plan loans and the amount in May were 2,197 and HKD 11.6 billion, respectively, a month-on-month decrease of 15.9% and 15.4%, both falling after two consecutive months of increase. The number of new mortgage insurance plan loan applications in May was 1,236, and the amount was HKD 5.854 billion, a month-on-month increase of 49.6% and 35.6%, respectively, with both the number and amount hitting a 10- and 9-month high, respectively; the average new mortgage insurance plan loan amount was HKD 4.74 million, a decrease of 9.4% month-on-month.

The number of newly approved mortgage insurance plan loans and the amount in the first five months of this year were 10,647 and HKD 55.03 billion, respectively, a year-on-year decrease of 50% and 53.4%, both hitting a new low in the first five months in nearly 5 years. The number of new mortgage insurance plan loan applications in the first five months was 3,858, and the amount was HKD 19.696 billion, a year-on-year decrease of 44.9% and 49.4%, respectively, both hitting a new low in the first five months in nearly 5 years.