Mortgage loans approved in November rose 12.3% month-on-month to $38.5 billion, the Monetary Authority announced today.
Mortgage loans financing primary market transactions increased 20.3% to $9.2 billion, while those financing secondary market transactions grew 3.3% to $19.4 billion. Those for refinancing rose 25.9% to $9.9 billion.
Mortgage loans drawn down during the month increased 14.6% to $26.5 billion.
The number of mortgage applications decreased 0.8% to 14,204.
The outstanding value of mortgage loans rose 0.7% month-on-month to $1.1089 trillion at the end of November.
