Mortgage loan applications up 20% q-o-q in Q1 2017: Credit Bureau Singapore

MORTGAGE loan applications have seen a 20 per cent increase in the first quarter of 2017 from Q4 2016, Credit Bureau Singapore (CBS) has found in its second instalment of the Consumer Credit Index (CCI).

According to CBS's data, mortgage loan applications saw the most growth, followed by motor vehicle loan applications at 4.13 per cent. Credit card and personal loan applications, however, dipped 5.97 per cent and 5.94 per cent respectively.

CBS said that there is a 2 per cent decrease in the total number of new credit applications quarter on quarter.

The CCI is a quarterly reporting of consumers' credit behaviour towards consumption of credit balances, payment delinquency and default rates in both secured and unsecured credit facilities.