Sibor begins long-awaited slide; slips to 1.8% after hovering at 1.9-2% the past 10 months
More reactive three-month SOR or Singapore swap offer rate has tumbled in line with global rates to 1.46 per cent on Monday, down from this year's high of 2 per cent on March 1
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SINGAPORE's key short-term interest rate, which is used to price home loans, has finally begun its long-awaited slide following the latest cut by the US Federal Reserve to give a fillip to the world's biggest economy.
Still, home buyers should not hold their breath because the three-month Sibor or Singapore interbank offered rate has remained high, relative to other benchmarks which have tumbled.
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