Mortgage loans drawn down in January decreased 2.7% month-on-month to $21.3 billion, the Monetary Authority announced today.
Mortgage loans approved increased 21.4% to $30.3 billion. Among these, mortgage loans for primary market transactions rose 43.7% to $7.9 billion, and those for secondary market transactions increased 18.1% to $17.8 billion.
Mortgage loans for refinancing rose 4.6% to $4.6 billion, while mortgage applications rose 22.8% to 13,608.
New mortgage loans priced with reference to best lending rates fell from 13.5% in December to 13.3% in January, with the majority in the price range of 2% and 2.25%. The portion priced with reference to HIBOR decreased from 84.5% in December to 84% in January.
The outstanding value of mortgage loans rose 0.9% to $993.1 billion.
The mortgage delinquency ratio slightly increased to 0.03%. The rescheduled loan ratio remained unchanged at nearly 0%.
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