Businesses and homeowners in Singapore should expect to pay higher interest rates in the coming year. That is according to economists following the US Federal Reserve's decision overnight (Dec 16) to raise its benchmark rate by one quarter of a percentage point to between 0.25 per cent and 0.50 per cent. Economists said the Fed's first interest rate hike in nearly a decade is a sign of confidence...
Finance
Mortgage rates have risen since the start of the year, and analysts have said home owners should brace themselves for further increases. At the beginning of 2015, home buyers in Singapore could get loans that start at 1.6 per cent in the first year. That rate has been creeping up, and the figure is now around 2 per cent, for rates pegged to three-month Singapore Interbank Offered Rate (SIBOR), said CEO...
Singapore’s key mortgage benchmark jumped to a seven-year high on Monday (Sep 14), ahead of a Federal Reserve meeting later this week that could mark the start of US interest rate hikes. The three-month Singapore Interbank Offered Rate (Sibor) rose 5.2 per cent to 1.13100 per cent, up from 1.07483 per cent on Thursday, according to latest data from the Association of Banks in Singapore. Monday’s...
A key interest rate benchmark hit a four-month high on Thursday (Aug 13), as sentiment towards the Singapore dollar remain weak following the depreciation of the Chinese Yuan. On Wednesday, the three-month Singapore Interbank Offered Rate (SIBOR) rose to 0.9345 per cent. On Thursday, the rate climbed further to 0.9388 per cent. Property analysts said banks have not yet adjusted mortgage rates that...
The usage of Singapore Interbank Offered Rate (Sibor) and Swap Offer Rate (SOR) data in valuation and pricing activities will be subject to a monthly fee of US$1,500 (S$2,000) each for subscribers from Oct 1. In a statement on Thursday (Jun 25), the ABS Benchmarks Administration (ABS Co) – a fully owned subsidiary of the Association of Banks in Singapore – said the decision was taken in line with...
The benchmark three-month interest rate in Singapore fell for a third straight session on Thursday (Apr 16), dropping below the psychological 1 per cent level amid an improved outlook for the local dollar. At the latest fixing on Thursday, the three-month Singapore interbank offered rate (Sibor), which is used to set floating-rate mortgages, slipped to 0.94654 per cent from 1.01241 per cent on...
The Republic's benchmark three-month interest rate eased to a two-week low on Tuesday (Apr 14), after the Singapore dollar rose as the Monetary Authority of Singapore kept its exchange-rate based policy unchanged. The three-month Singapore interbank offered rate (Sibor), which is used to set floating-rate mortgages, slipped to 1.01441 per cent, its lowest level since Mar 30. Three-month Sibor is...
Singapore mortgage rates have risen on average by at least a third within the past month, amid an increase in Singapore's benchmark interest rate. Market analysts have said mortgage rates are expected to climb further in the coming months and more home owners are reviewing their financial position. Mortgage rates for home owners on floating rate loan packages are estimated to have risen on average from...
A key benchmark lending rate rose above the 1 per cent level for the first time in more than six years, indicating that mortgage rates will increase further in coming weeks. The three-month Singapore interbank offered rate (SIBOR) was fixed at 1.00129 per cent on Tuesday (March 24), according to Association of Banks in Singapore (ABS) data posted on Bloomberg, up 0.9 per cent from Monday's fixing of...
Homeowners servicing mortgages will need to tighten their purse strings further: The three-month Singapore interbank offered rate (SIBOR) on Wednesday (Mar 11) charged past 0.9 per cent — a level not seen since 2008 — amid widespread expectations that the United States Federal Reserve will raise benchmark borrowing costs by mid-year. The local interest rate, widely used to price home loans here,...