1. Higher 0.5% Interest Rate Floor
MAS will raise by 0.5% percentage points for the medium-term interest rate floor used by private financial institutions to compute a borrower’s TDSR and MSR. The revised medium-term interest rates are: This mainly applies to the mortgage equity withdrawal loans (MWLs) – loans secured against the value of the borrower’s residential property....The government has introduced a new set of property cooling measures, less than a year from the previous cooling measures released on 16 Dec 2021.
The measures were released jointly by the Monetary Authority of Singapore (MAS), the Ministry of National Development (MND) and HDB and will take effect on 30 September 2022 with immediate effect.
You can read them from the link here or the BT press release [PDF] here.
With that, lets summarize all these into 3 quick things to know about the cooling measures in layman terms.
