With the improving economic status of most Filipinos, home loan releases of Pag-IBIG Fund in the last three quarters have grown to P88.3 billion as demand remains strong.

The amount of home loans released grew by almost P5 billion or 6 percent compared to the P83.31 billion in home loans released a year ago.

The amount financed 68,211 housing units and now stands as the highest released by the agency for any January to September period.

"Pag-IBIG Fund remains at the forefront in home financing as it accounts for nearly 40 percent of the total home mortgages in the country. This shows that it continues to fulfill its mandate, not only by providing affordable home financing to Filipino workers, but also by effectively stimulating the housing industry. These are all in line with the call of President Ferdinand Marcos Jr. to provide our fellow Filipinos with better and dignified lives," Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development, or DHSUD, and the 11-member Pag-IBIG Fund Board of Trustees, said.

Q4 surge in loans seen

Out of the total amount, Acuzar added that P3.49 billion were released as socialized home loans for the benefit of 8,216 Pag-IBIG Fund members belonging to the minimum-wage and low-income sectors.