Rates gaming on mortgage relief in Singapore set to unwind

ON THE surface of it, having S$29 billion or about 15 per cent of outstanding mortgages in Singapore at end-August under deferred payments, should ring some alarm bells.

But that headline figure masks some rates-arbitrage that has been taking place.

This is very likely in the regulators' careful supervision, as they introduced income impact as a qualifying term for mortgage moratoriums from this month.