30 Jan '15, 3am

Rising interest rates and falling property prices are hurting Singapore homeowners--and the economy.

A sharp jump in Singapore’s money market rates is threatening to make mortgages more expensive, a potential drag on an economy that is already suffering from a severe slowdown and a property price slump. The benchmark three-month borrowing costs for banks reached a five-year high of 0.668% Wednesday, a day after Singapore’s central bank surprised markets and eased monetary policy, knocking sentiment among investors who now expect a...

Full article: http://www.wsj.com/articles/singapore-homeowners-could-fa...

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