|
The mortgage delinquency ratio and rescheduled loan ratio fell to record lows of 0.11% and 0.20% in November, driving the combined ratio lower to 0.32%, according to the Monetary Authority's monthly survey.
New mortgage loans drawn down rose 17.5% to $18.7 billion, and new loans approved surged 20.5% to $27.7 billion.
The rise was due to more approvals for secondary market transactions, which more than offset the drop in approvals for primary market transactions and refinancing loans.
Approvals for secondary-market transactions grew 39.4% to $21.9 billion, primary-market transactions fell 33.4% to $2.7 billion, and refinancing loans dropped 3.3% to $3 billion. The number of new applications rose 3.9%.
The proportion of new loans approved at more than 2.5% below the best lending rate decreased to 90.9% from 94% in October. The outstanding value of mortgage loans rose 0.9% to $554.6 billion.
Go To Top
|
