Mortgage Loans Up 16.3%
Residential mortgage loans approved in June increased 16.3% compared with May to $47.6 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions increased 28.6% to $8.4 billion, while those financing secondary market transactions rose 19% to $33.9 billion.
Those for refinancing decreased 10% to $5.3 billion.
Mortgage loans drawn down during the month increased 23.8% to $29.3 billion.
The number of mortgage applications in June decreased month-on-month by 7.9% to 13,829.
The outstanding value of mortgage loans rose 0.9% to $1.5149 trillion at the end of June.
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