MORTGAGE LOANS UP 9.5%
29-11-2024
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The value of residential mortgage loans approved in October was $19 billion, a 9.5% increase compared with September, the Monetary Authority announced today.
Mortgage loans financing primary market transactions dropped 2.4% to $5.4 billion, while those financing secondary market transactions rose 14% to $11.4 billion.
Loans for refinancing increased 21.2% to $2.2 billion.
Mortgage loans drawn down during October amounted to $11.2 billion, a 26.9% reduction from September.
The number of mortgage applications in October increased 46.5% month-on-month to 7,289.
The outstanding value of mortgage loans remained virtually unchanged, standing at $1,872.8 billion at end-October.
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