MORTGAGE LOANS DOWN 4.7%
28-2-2022
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Residential mortgage loans approved in January decreased 4.7% compared with December to $42.2 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions fell 21.1% to $7 billion, while those financing secondary market transactions dipped 2.9% to $24 billion.
Those for refinancing rose 4.7% to $11.3 billion.
Mortgage loans drawn down during the month decreased 13.7% to $31.3 billion.
The number of mortgage applications in January dropped to 10,501, a month-on-month fall of 2.9%.
The outstanding value of mortgage loans increased 0.6% to $1.7468 trillion at the end of January.
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