Interest Rates

After Fed’s rate cut, where are Singapore interest rates and home loans headed?

Home owners hoping for some relief from their monthly mortgage repayments may be in for some disappointment, even if a benchmark local interest rate, which many home loans are pegged to, has edged down following a recent rate cut by the US Federal Reserve. This as some banks have begun trimming their home loan interest rates as early as April in anticipation of the Fed’s move, market watchers told...

Taking a home loan amid rising interest rates

A residential property is the biggest financial asset most of us will own. Before purchasing a property, it is important to know how much you can borrow, understand the types of mortgage packages available, and what your options are when interest rates rise. How much can you borrow? There are several online resources that can help you calculate how much you can borrow from a bank based on the total...

Rising Singapore interest rates sting mortgage borrowers

The era of ultra-easy money is drawing to an end for Singapore mortgage holders, with domestic interest rates rising at their fastest pace in a decade in a country that already ranks among the world's most expensive places to live. The three-month Singapore interbank offered rate (Sibor), used to set floating-rate mortgages, climbed to 0.78756 per cent today (March 3). It has gained 33 basis points so...

Singapore’s home mortgage rates continue to rise

The three-month Singapore Interbank Offered Rate (SIBOR) continued to push higher on Monday (Feb 2), touching 0.67863 per cent. SIBOR is a key interest rate that housing loans in Singapore are pegged to and it has been on an upward trend since the end of last year. Expectations are that home buyers may have to service higher monthly mortgages, and industry watchers have said this could reduce...

Interest rates seen moving up as soon as Sept

If you are looking to take a loan to buy some real estate or a new car, you may want to do it sooner rather than later. That's because some analysts expect interest rates to start rising as soon as September. Singapore's interest rates are closely tied to those in the United States. And the Federal Reserve has made it clear that if the US economy continues its upward trend, quantitative easing...

Will history repeat itself?

Interest rates are at an all-time low, but what will happen if rates begin to rise, asks Colin Tan These days, when I am asked in casual conversations about the local housing market, I am at a loss for words. Do I describe the market assuming that housing interest rates remain as they are, which has been abnormally low for about two and a half years now, or do I launch straight into the explanation of...

Interest rate plunge brings property cheer and fears

Local interest rates plunged to all-time lows following the appreciation of the Singapore dollar against the US unit. This gave home buyers reason to cheer. The key three-month Sibor or interbank rate fell 0.7 per cent to a record low of 0.49667 per cent as more money flow is expected here in anticipation of currency gains. This is after an unexpectedly hawkish monetary policy statement from the Monetary...

All time low rates ‘may overheat property sector’

Interbank lending rates have fallen to all-time lows here and market watchers have raised concerns that cheap lending may lead to over-heating in the property sector. Responding to media queries at a Ministry of Trade and Industry briefing yesterday, Monetary Authority of Singapore (MAS) deputy managing director Ong Chong Tee said the fall in Sibor rates partly reflects market expectations of a stronger...

More interest rate hikes expected amid asset bubble concerns: DBS CEO

DBS CEO Piyush Gupta said property bubbles are forming in some key Asian cities which may lead to a market correction. He also said concerns over asset bubbles may lead to more Asian governments raising interest rates soon. Mr Gupta was speaking at an event organised by the American Chamber of Commerce in Singapore on Monday. Property prices have been rising across Asia. In Hong Kong, property prices...

More looking to refinance home loans with lower interest rates

More people are looking to refinance their home loans in the past few months with lower interest rates, but not without difficulties. Key benchmark interest rates have been dropping since governments around the world embarked on their rate cutting campaign a few months ago to revive the slumping economy. As a result, the Singapore Interbank Offered Rate (SIBOR) has more than halved in the past three to...

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