Singapore mortgages

After several years of rate volatility, many borrowers are placing greater emphasis on certainty

But the majority of customers continue to choose fixed-rate packages

Don’t raid the CPF account for a private home

Delayed effects of high rates in 2023 and 2024 have increased listings of distressed assets, as buying sentiment improves

Households’ financial assets grow 8% on the year

Foreign banks in Singapore have slashed their home loan rates to as low as 2.45%, lower than that offered by the local banks

BOC, Stanchart, Maybank offer rates of 2.45 to 2.5 per cent; fixed mortgage rates were around 3% at the start of this year, and up to 4.25% at the start of 2023

Its report adds that management corporation strata title sales for mainly non-residential units are up in the year thus far, from zero last year

Fed’s Sep 18 rate cut has been widely anticipated and local banks have already priced it in for their loan packages