Approval of mortgage loans fell 25%

New approvals of Macau’s residential mortgage loans (RMLs) fell, while those of commercial real estate loans (CRELs) rose month-on-month in October, the city’s monetary watchdog said yesterday. According to Monetary Authority of Macao statistics, the new RMLs approved by Macau banks in October fell 24.8% month-on-month to 883 million patacas. The new RMLs to residents, representing 98.3% of the total, decreased 24.3% to 868.08 million patacas. The non-resident component dropped to 14.92 million patacas.