Mortgage rates here are on the rise and could continue climbing as funds grow tighter
Home buyers will have to stump up more of their income for loan payment
By Esther Teo Property Correspondent
Many banks have them pegged to a key banking industry rate also known as the Singapore interbank offered rate (Sibor), the rate at which banks lend to each other.
Last year, that rate was Sibor plus 0.8 to 0.9 per cent but it rose to Sibor plus 1.15 per cent earlier this month, a Barclays report this month noted.
The Sibor has been hovering around 0.37 per cent to 0.38 per cent in recent weeks.
Home buyers will have to stump up more of their income for loan payment
By Esther Teo Property Correspondent
Many banks have them pegged to a key banking industry rate also known as the Singapore interbank offered rate (Sibor), the rate at which banks lend to each other.
Last year, that rate was Sibor plus 0.8 to 0.9 per cent but it rose to Sibor plus 1.15 per cent earlier this month, a Barclays report this month noted.
The Sibor has been hovering around 0.37 per cent to 0.38 per cent in recent weeks.