Home loans in Singapore used to be priced following one of three interest rate benchmarks. These are the SORA, SOR and the SIBOR. Soon, SORA will be the sole interest rate benchmark used in Singapore, and since 2021, lenders have already begun phasing out SOR and SIBOR home loans, leaving SORA loans in their wake. This means that if you’re looking for a mortgage loan, your choices will be narrowed down to SORA loans only, making for less analysis paralysis. But what if you have an existing home mortgage that was based on SOR or SIBOR? The short answer is “nothing” for SOR, and “look for a new mortgage” for SIBOR. We’ll explain in detail later, but first, let’s unravel what all these acronyms mean and what they are. ...