Hoping for banks to slash mortgage rates? Don’t hold your breath, analysts say
Fed’s Sep 18 rate cut has been widely anticipated and local banks have already priced it in for their loan packages
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MORTGAGE rates in Singapore are likely to fall as the US Federal Reserve has started cutting interest rates.
But market watchers do not expect a large decline, given that the local banks have already been adjusting their rates lower for some time now.
On Sep 18, the Fed cut interest rates by 50 basis points, bringing interest rates to between 4.75 and 5 per cent. It also signalled further cuts at the end of this year, and over the next two years.
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