The Monetary Authority of Macao released today the results of its mortgage loans survey. New Lending Approved For the second quarter of 2009, new residential mortgage loans (RMLs) approved by Macao banks increased notably by 74.3% quarter-to-quarter to MOP3.9 billion. Of which, 84.1% was extended to residents. In terms of approved value, new RMLs to residents and non-residents grew at respective rates of 67.9% and 118.6%. Meanwhile, new commercial real estate loans (CRELs) approved increased by 23.9% to MOP2.5 billion. Of which, 91.5% was granted to residents. In terms of approved value, new CRELs to residents rose 49.9%, while those to non-residents fell 57.0%. Outstanding Balances As at end-June 2009, the outstanding value of RMLs reached MOP36.8 billion, an increase of 4.6% compared with the previous quarter. 88.1% of the loans was extended to residents. RMLs to residents and non-residents grew at respective rates of 4.2% and 7.5% during the second quarter of 2009. Concurrently, the outstanding value of CRELs edged up 0.8% to MOP35.5 billion. Residents accounted for 86.3% of the loans. During the second quarter of 2009, CRELs to residents grew 2.0% while those to non-residents fell 5.8%. Delinquency Ratios At the end of June 2009, the delinquency ratio for RMLs stayed at 0.23%, while the ratio for CRELs slid 0.04 percentage points to 0.50%.
