|
The value of new residential mortgage loans drawn down during December rose 32.7%, to $14 billion, the highest level in 18 months, the Monetary Authority says. But new loans approved fell 14.9%, to $13.3 billion.
The drop was due to falls of $700 mllion in approvals for primary market transactions, of $700 million in approvals for secondary market transactions, and of $900 million in approvals for refinancing loans. The number of new applications also dropped 22.2%.
The proportion of new loans approved at more than 2.5% below the best lending rate increased to 61% from 54.8% in November, while the proportion of new approvals priced with reference to rates other than the best lending rate or fixed rates fell to 34.2% from 40.3% over the same period.
The outstanding value of mortgage loans rose 0.6% to $529.4 billion.
The mortgage delinquency ratio edged up to 0.2% from 0.19% in November. With the rescheduled loan ratio decreasing to 0.26% from 0.28%, the combined ratio improved to 0.46% from 0.47% a month earlier.
Go To Top
|
