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The 25 authorised institutions that participate in the HK Monetary Authority's monthly survey of residential mortgage lending reported a decrease of 14.5% in new loans drawn down during August, to $9.2 billion.
New loans approved by the institutions during August also fell, by 0.5% to $11.7 billion.
The authority said the fall was largely due to the 19.6% ($691 million) decrease in approvals for primary market transactions, which outweighed the 13.8% ($639 million) increase in those relating to secondary market transactions.
Approvals for refinancing loans also declined, by 0.3% ($10 million).
The proportion of new approvals priced at more than 2.5% below the best lending rate increased to 66.1% from 65.3% in July, while that for fixed rate mortgages advanced to 15.4% from 12% in July.
The outstanding amount of mortgage loans edged down to $523.3 billion.
The mortgage delinquency ratio improved further to 0.5% from 0.54% in July. With the rescheduled loan ratio remaining unchanged at 0.5%, the combined ratio improved to 1% from 1.04%.
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