MORTGAGE LOANS UP 10.1%
31-5-2022
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Residential mortgage loans approved in April increased 10.1% compared with March to $38.2 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions dropped 8.8% to $5.7 billion, while those financing secondary market transactions rose 20.7% to $23.4 billion.
Those for refinancing increased 0.5% to $9 billion.
Mortgage loans drawn down during the month dropped 24.7% to $19.3 billion.
The number of mortgage applications in April increased to 11,830, a month-on-month hike of 20.5%.
The outstanding value of mortgage loans increased 0.1% to $1.762 trillion at the end of April.
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