Mortgage rates in Singapore on the way up

[Crane]

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.

 

[kongsimi]

walau 1 percent peasants will be broke.

that is just too much....hee...

 

[The_Hypocrite]

in Aussie land. Interest rates are 5.7%. Car loan nearly 10%. Its good singapore has such low rates. At least those that buy early dont suffer like in Oz,,buy house cheaper. than the interest keep going up and killing people who got their houses early. Is that a better system than in Singapore?

 

[johnny333]

in Aussie land. Interest rates are 5.7%. Car loan nearly 10%. Its good singapore has such low rates. At least those that buy early dont suffer like in Oz,,buy house cheaper. than the interest keep going up and killing people who got their houses early. Is that a better system than in Singapore?

Aren't people making more & paying less for for a home