Mortgage loans drawn down in June rose 4.1% month-on-month to $19.3 billion, the Monetary Authority announced today.
Mortgage loans approved increased 12.1% to $29.9 billion. Among these, mortgage loans for primary market transactions dropped 0.2% to $8.6 billion, while those for secondary market transactions rose 18.6% to $15.8 billion.
Mortgage loans for refinancing increased 16.4% to $5.4 billion.
New mortgage loans priced with reference to best lending rates fell from 12.2% to 11.7%. The portion priced with reference to HIBOR increased from 85.2% to 85.8%.
The outstanding value of mortgage loans rose 0.5% to $1.0305 trillion.
