Mortgage Loans Down 3.9%
Residential mortgage loans approved in October decreased 3.9% compared with September to $32.6 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions rose 4.6% to $9.1 billion, while those financing secondary market transactions increased 14.6% to $12.8 billion.
Those for refinancing dipped 24% to $10.6 billion.
Mortgage loans drawn down during the month fell 23.5% to $26.3 billion.
The number of mortgage applications in October decreased month-on-month by 3.7% to 9,299.
The outstanding value of mortgage loans increased 0.5% to $1.4228 trillion at the end of October.
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