Singapore mortgages may rise as much as 0.75% this year following Fed hikes

Mortgage advisers expect 3-month Sora to hit about 0.8% by July and possibly cross 1% before end-2022

Kelly Ng

Published Wed, Mar 23, 2022 · 05:50 AM

Singapore

MORTGAGE rates in Singapore could be raised 3 times this year, by 25 basis points each time, according to mortgage advisers polled by The Business Times.

Their projections come after Federal Reserve chairman Jerome Powell's commitment on Monday (Mar 21) to double down on inflation in the United States.

"If we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so. And if we determine that we need to tighten beyond common measures of neutral and into a more restrictive stance, we will do that as well," Powell said before the National Association for Business in Washington, DC.

The US Fed this month lifted interest rates for the first time since December 2018: from near zero to a range of between 0.25 per cent and 0.5 per cent, representing a hike of 25 basis po…