28 Mar '11, 1am

Record low interest rates are allowing some foreign banks to offer cheaper mortgages than their local rivals

Record low interest rates are allowing some foreign banks to offer cheaper mortgages than their local rivals

It is unlikely local banks will respond aggressively to the cheap mortgages offered by foreign banks, say market observers, because they have other advantages like branch network and customer reach. Phillip Securities analyst Magdalene Choong said it does not make sense for local banks to defend turf in exchange for razor-thin margins. -- ST PHOTO: ALPHONSUS CHERN

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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