Mortgage loans up 4.4%

August 30, 2019

Residential mortgage loans approved in July increased by 4.4% from June to $46.6 billion, the Monetary Authority announced today.

 

Mortgage loans financing primary market transactions decreased by 1.1% to $11.3 billion, while those financing secondary market transactions fell 11.1% to $16.8 billion.

 

Those for refinancing went up 29.2% to $18.5 billion.

 

Mortgage loans drawn down during the month went up 5.7% to $40.7 billion.

 

The number of mortgage applications in July increased month-on-month by 18.9% to 15,140 and the outstanding value of mortgage loans increased by 1.3% to $1.388 trillion.

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