Meridians: In November, Hong Kong issued 1068 new cases based on guaranteed number, involving a total amount of 56.29 billion Hong Kong dollars.

mReferral Mortgage Brokerage Services' referral research department and the latest information from Hong Kong Mortgage Securities Company show that in November, the number of new mortgage insurance plan loans in Hong Kong was 1,068, totaling 56.29 billion Hong Kong dollars. This is a decrease of 100 loans (8.6%) and 4.02 billion Hong Kong dollars (6.7%) compared to the previous month, marking the fourth consecutive month of decline. The number of loans reached a new low in nearly 7 years (83 months) and the amount reached a new low in over 6 years (74 months). In November, the number of new drawdowns of mortgage insurance plan loans was 560, totaling 27.99 billion Hong Kong dollars. This is a decrease of 63 loans (10.1%) and 3.07 billion Hong Kong dollars (9.9%) compared to the previous month, marking the second consecutive month of decline. The number of loans reached an 8-month low, and the amount reached a 3-month low. The average amount of new drawdowns for mortgage loans was 5 million Hong Kong dollars, an increase of 10,000 Hong Kong dollars (0.3%) compared to the previous month, reaching a 7-month high. Additionally, in new drawdown cases, 49% were for newly built properties and 51% were for second-hand properties. In the first 11 months of the year, the number of new mortgage loans approved was 14,726, totaling 739.97 billion Hong Kong dollars. This is a decrease of 4,619 loans (23.9%) and 270.51 billion Hong Kong dollars (26.8%) compared to the same period last year, reaching a new low in nearly 10 years for the first 11 months. The amount reached a new low in nearly 6 years for the first 11 months. In the first 11 months of the year, the number of new drawdowns of mortgage loans was 6,594, totaling 326.53 billion Hong Kong dollars. This is a decrease of 2,217 loans (25.2%) and 125.17 billion Hong Kong dollars (27.7%) compared to the same period last year, reaching a new low in nearly 9 years for the first 11 months. The amount reached a new low in nearly 6 years for the first 11 months. Cao Deming, Vice President of Referral Mortgage Brokerage Services, stated that in November, there was a lack of support from large buyers of new properties, combined with the Hong Kong government's relaxation of loan-to-value ratios last year. Buyers can now apply for up to 70% mortgage without mortgage insurance, leading to a significant decrease in demand for mortgage insurance. It is expected that the demand for mortgage insurance will continue to remain low.