Negative equity mortgages drop

January 27, 2012

The estimated number of residential mortgage loans in negative equity decreased from 1,653 cases at the end of September to 1,465 in December, the Monetary Authority said today.
 
The aggregate value in negative equity fell to $3.647 billion in December compared to $4.148 billion in September, representing 0.5% of the total amount of outstanding mortgage loans at the end of December.
 
The unsecured portion of these loans decreased to $122 million in December from $165 million in September.