More home loans in Q1 this year compared to previous quarter

A view of public housing (HDB) and private housing in Toa Payoh, the central region of Singapore.
A view of public housing (HDB) and private housing in Toa Payoh, the central region of Singapore.PHOTO: ST FILE

SINGAPORE -Mortgage loan applications rose 20 per cent in the first quarter this year from the fourth quarter last year, said Credit Bureau Singapore (CBS) on Tuesday.

The data comes from the second instalment of its Consumer Credit Index (CCI).

The index studies consumers' credit behaviour and how they consume credit balances, payment delinquency and default rates in both secured and unsecured credit facilities.

Home loans are examples of secured facilities, while unsecured debt refers to loans with no collateral, like those racked up on credit cards or overdrafts.

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CBS's data showed mortgage loan applications grew the most in the first quarter, followed by motor vehicle loan applications, which grew 4.13 per cent.