Buying property in Singapore is expensive enough as it is, and the soaring interest rates aren’t helping. Act now if you want to avoid feeling the pinch of servicing higher mortgage loans.
Words by Calvin Yeo
If you managed to refinance your home loan to a fixed rate last month, you would probably have locked in a fairly good deal for yourself for a couple of years. Unfortunately, most of the local banks have been quick to react to adjust the fixed rate home loans upwards so that it is not too far off from the floating rates.
Are Fixed Rates Attractive Now?
However, even with the new fixed rates, some of the banks’ rates still seem to be a better bet than the floating rates. With the Singapore Interbank Offered Rate (Sibor) and Swap Offer Rate (SOR) shooting up to above 1% — a record level …