Published:
Mortgage loans approvals down 6.3% in August
Loans for primary market transactions slipped 0.7%.
The value of residential mortgage loans approved in August totaled $28.7b, a 6.3% decline from July, the Monetary Authority reported.
Loans for primary market transactions slipped 0.7% to $10.7b, while secondary market loans dropped 11.9% to $14.6b. Refinancing loans rose 4.1% to $3.3b.
Mortgage drawdowns increased 4.5% to $19b, but the number of applications fell 6.7% to 8,405.
The outstanding value of mortgage loans rose slightly 0.1% to $1.8883t at the end of August.
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