11 Dec '17, 3pm

Rise in Singapore home loan rates likely to continue

Rise in Singapore home loan rates likely to continue

Just as the property market picks up, so do home loan rates . 3 of the local Singapore banks have raised their home loan rates as interest rates rise. Financial analysts expect more hikes to present themselves in due course. Junction 9 Residence, Yishun. Picture: iProperty The improving market environment and positive outlook has buoyed sentiments all around, from developers to sellers, investors, and buyers. Taking this into account, banks are beginning to increase their home loan rates. DBS Bank , OCBC Bank and United Overseas Bank (UOB) have all raised the interest on fixed-rate and floating-rate packages since November. Related: MAS cautions against sudden property market fervency DBS and UOB have increased their home loan rates by 10% per year. In October, the rate for a fixed-rate package was 1.68% per year. Now, it stands at 1.85%. They are confident that the raise ...

Full article: https://www.iproperty.com.sg/news/rise-in-singapore-home-...

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