Mortgage loans approved in October rose 6.7% month-on-month to $34.3 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions increased 16.5% to $7.7 billion, while those financing secondary market transactions grew 3.9% to $18.7 billion. Those for refinancing rose 5% to $7.9 billion.
Mortgage loans drawn down during the month decreased 0.6% to $23.1 billion.
The number of mortgage applications increased 5.8% to 14,323.
The outstanding value of mortgage loans rose 0.5% month-on-month to $1.1012 trillion at the end of October.
