The value of residential mortgage loans approved in January was $25 billion, a 2.1% decrease compared with December 2024, the Monetary Authority announced today.

Mortgage loans financing primary market transactions increased 15.5% to $10 billion, while those financing secondary market transactions decreased 11.7% to $12.2 billion.

Loans for refinancing decreased 8.8% to $2.9 billion.

Mortgage loans drawn down during January amounted to $15.6 billion, a 17.6% rise from December 2024.

The number of mortgage applications in January rose 3.3% month-on-month to 6,516.

The outstanding value of mortgage loans increased 0.1% to $1.872 trillion at end-January.