Mortgage loans drawn down in December increased 5% month-on-month to $21.9 billion, the Monetary Authority announced today.
Mortgage loans approved increased 4.9% to $25 billion. Among these, mortgage loans financing primary market transactions decreased 5.1% to $5.5 billion, and those financing secondary market transactions rose 8.3% to $15.1 billion.
Mortgage loans for refinancing rose 7.6% to $4.4 billion.
Mortgage applications rose 9.5% to 11,079.
New mortgage loans priced with reference to best lending rates increased from 13.9% in November to 13.5% in December, with the majority priced in the range of 2% to 2.25%.
New mortgage loans priced with reference to HIBOR increased from 83.9% in November to 84.5% in December.
The outstanding value of mortgage loans increased 0.9% to $984.5 billion.
The mortgage delinquency ratio slightly increased to 0.03% and the rescheduled loan ratio remained unchanged at nearly 0%.
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