Mortgage loans approved in July rose 2.7% month-on-month to $22.9 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions decreased 1.4% to $4.6 billion, while those financing secondary market transactions grew 5.2% to $13.3 billion. Those for refinancing rose 0.1% to $5 billion.
Mortgage loans drawn down during the month decreased 11.1% to $15.8 billion.
The number of mortgage applications increased 4.4% to 10,281.
The outstanding value of mortgage loans rose 0.2% month-on-month to $1.0864 trillion at the end of July.
