Mortgage applications point to more buyers
Despite recent data showing weak home sales for January, a new report shows home buyers may edge back into the market in March.
mortgage loans down 3%
mortgage loans drawn down in January decreased 2.7% month-on-month to $21.3 billion, the Monetary Authority announced today. mortgage loans approved increased 21.4% to $30.3 billion. Among these, mortgage loans for primary market transactions rose 43.7% to $7.9 billion, and those for secondary market transactions increased 18.1% to $17.8 billion. mortgage loans for refinancing rose 4.6% to $4.6 …