Mortgage loans approved in August rose 29.5% month-on-month to $29.6 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions increased 24.4% to $5.7 billion, while those financing secondary market transactions grew 25.4% to $16.7 billion. Those for refinancing rose 44.9% to $7.2 billion.
Mortgage loans drawn down during the month increased 10.1% to $17.4 billion.
The number of mortgage applications increased 29.4% to 13,300.
The outstanding value of mortgage loans rose 0.2% month-on-month to $1.0886 trillion at the end of August.
