MORTGAGE LOANS DOWN 4.7%
30-11-2022
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Residential mortgage loans approved in October decreased 4.7% compared with September to $32.5 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions rose 14.6% to $7.8 billion, while those financing secondary market transactions dropped 3% to $15.5 billion.
Those for refinancing fell 18.6% to $9.2 billion.
Mortgage loans drawn down during the month decreased 18.7% to $21 billion.
The number of mortgage applications in October stood at 7,280, a month-on-month drop of 16.6%.
The outstanding value of mortgage loans increased 0.1% to $1.7989 trillion at the end of October.
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