MORTGAGE LOANS UP 31.6%
29-4-2022
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Residential mortgage loans approved in March increased 31.6% compared with February to $34.7 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions surged 40.4% to $6.3 billion, while those financing secondary market transactions rose 30.1% to $19.4 billion.
Those for refinancing increased 29.2% to $8.9 billion.
Mortgage loans drawn down during the month rose 7.1% to $25.7 billion.
The number of mortgage applications in March increased to 9,818, a month-on-month hike of 48.9%.
The outstanding value of mortgage loans increased 0.3% to $1.7602 trillion at the end of March.
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