Mortgage loans up 30.6%

2017-07-02 14:26:58

Mortgage loans approved in May rose 30.6% month-on-month to $41.7 billion, the Monetary Authority announced today. 

Mortgage loans financing primary market transactions increased 37.8% to $8.5 billion, while those financing secondary market transactions increased 25.6% to $21.8 billion. Those for refinancing increased 35.6% to $11.4 billion.

Mortgage loans drawn down during the month increased 33.5% to $28.3 billion.

The number of mortgage applications rose 13.8% to 14,825. 

The outstanding value of mortgage loans rose 0.7% month-on-month to $1.1506 trillion at the end of May.

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