MORTGAGE LOANS DOWN 21.2%

31-5-2023

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Residential mortgage loans approved in April decreased 21.2% compared with March to $35.4 billion, the Monetary Authority announced today.

Mortgage loans financing primary market transactions increased 0.8% to $9.7 billion, while those financing secondary market transactions fell 29% to $21.3 billion.

Loans for refinancing also went down 17.5% to $4.4 billion.

Mortgage loans drawn down during the month dipped 6.5% to $17.1 billion.

The number of mortgage applications in March was 8,368, a month-on-month decrease of 27.6%.

The outstanding value of mortgage loans rose 0.2% to $1.8228 trillion at the end of April.




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