Households earning less than S$7k most burdened by mortgage rate hikes: MAS
But its stress tests find most households can still service their housing loans in new rate-income scenario
Singapore
WHILE households have exercised financial prudence as growth in wealth slowed, those with private housing loans and incomes of less than S$7,000 are the most exposed to higher financial burden when mortgage rates increase.
The Monetary Authority of Singapore (MAS) also found that households that manage several loans for their investment properties might face difficulties, too.
In its latest Financial Stability Review, an annual snapshot of Singapore's financial health that was released on Friday, MAS detailed the exposure to financial risk that households faced.
The possibility of the United States Federal Reserve normali…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Britain’s retail sales disappoint in sign of lacklustre recovery
Explosions in Iran, US media reports Israeli strikes
US veto sinks Palestinian UN membership bid in Security Council
Pro-China local leader ousted in Solomon Islands election
Japan‘s March inflation slows to 2.6%, eyes on BOJ move
S&P downgrades Israel rating on heightened geopolitical risk