Feb home loans shrink for first time since 2006

Singapore

HOUSING loans in Singapore hit another low in February, with mortgages contracting over the month for the first time since April 2006, preliminary data from the Monetary Authority of SIngapore showed on Friday.

Mortgages booked in February on a net basis came in at S$203.8 billion, falling from S$204.3 billion in January. From a year ago, housing loans in February continued to grow, but at its slowest yet of 1.2 per cent since BT began compiling bank lending data from 1991.