Mortgage Loans Down 5.6%
Mortgage loans approved in April fell 5.6% compared with the previous month to $37.3 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions dropped 15% to $6.5 billion while those financing secondary market transactions dropped 5.7% to $20.8 billion.
Those for refinancing went up 1.9% to 10 billion.
Mortgage loans drawn down during the month decreased 11.3% to $26.4 billion.
The number of mortgage applications in April increased 8.6% month-on-month to 14,898.
The outstanding value of mortgage loans rose 0.6% month-on-month to $1.2363 trillion.
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