New lending for housing jumps 51.8 pct in June

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Macau banks approved MOP9.2 billion (US$1.5 billion) of new mortgage lending for housing in June, 51.8 percent more than the month before, official data show. The Monetary Authority of Macau says much of the increase was due to enterprises using housing as collateral for borrowing. The increase bought the value of all outstanding loans for housing to MOP137.8 billion by the end of June, 5.4 percent more than a month earlier. The proportion that was non-performing was 0.06 percent, 0.01 percentage point less than a month earlier. Banks approved MOP10.9 billion of new mortgage lending for commercial property in June, 95.1 percent more than the month before. The value of all outstanding loans for commercial property had risen to MOP105.1 billion by the end of June, 2.7 percent more than a month earlier. The proportion that was non-performing remained 0.08 percent.