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Mortgage loans fall 1.7%

October 31, 2017

Mortgage loans approved in September dropped 1.7% compared to the previous month to $29.5 billion, the Monetary Authority announced today.


Mortgage loans financing primary market transactions increased 6.6% to $6.3 billion, while those financing secondary market transactions went up 4.6% to $13.9 billion. 


Those for refinancing fell 14% to $9.3 billion.


Mortgage loans drawn down during the month decreased 1% to $27.8 billion.


The number of mortgage applications rose 4.3% to 11,376.


The outstanding value of mortgage loans increased 0.7% month-on-month to $1.1869 trillion at the end of September.

Sales of First-hand Residential Properties Authority