MORTGAGE LOANS DOWN 3.9%
30-9-2022
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Residential mortgage loans approved in August decreased 3.9% compared with July to $38.5 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions dropped 6.7% to $6.9 billion, while those financing secondary market transactions fell 11.1% to $19.3 billion.
Those for refinancing rose 12.1% to $12.4 billion.
Mortgage loans drawn down during the month decreased 1.2% to $30.4 billion.
The number of mortgage applications in August stood at 10,907, a month-on-month rise of 14.8%.
The outstanding value of mortgage loans increased 0.5% to $1.7915 trillion at the end of August.
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