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Mortgage loans up 5.6%

July 31, 2017

Mortgage loans approved in June rose 5.6% month-on-month to $44 billion, the Monetary Authority announced today.


Mortgage loans financing primary market transactions increased 19.2% to $10.2 billion, while those financing secondary market transactions decreased 10.4% to $19.5 billion. Those for refinancing increased 26.1% to $14.3 billion.


Mortgage loans drawn down during the month increased 13.4% to $32 billion.


The number of mortgage applications decreased 1.2% to 14,654.


The outstanding value of mortgage loans rose 0.9% month-on-month to $1.1609 trillion at the end of June.