The Business Times
business-time-50

Tighter borrowing limits in line with weakening risk appetite among banks: mortgage brokers

google-preferred-sourceAdd BT as a preferred source
Tan Nai Lun

Tan Nai Lun

Published Fri, Sep 30, 2022 · 04:05 PM
    • Mortgage brokers polled by The Business Times also said the new rules are unlikely to have a direct impact on mortgage rates.
    • Mortgage brokers polled by The Business Times also said the new rules are unlikely to have a direct impact on mortgage rates. PHOTO: LIM YAOHUI, ST

    THE government’s move to limit how much property buyers can borrow is largely in line with the weakening risk appetite among banks, mortgage brokers said.

    Among the latest measures to cool the property market, the medium-term interest rate floor, used to compute the total debt servicing ratio (TDSR) and mortgage servicing ratio (MSR), will be raised by half a percentage point for loans for the purchase of properties on or after Sep 30.

    This is expected to ensure prudent borrowing as interest rates rise, said the Housing and Development Board, Ministry of National Development, and the Monetary Authority of Singapore (MAS) in a joint statement late on Thursday (Sep 29).

    Singapore propertySingapore mortgagesInterest ratesCooling measures

    TRENDING NOW

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The company says the disputes do not cast significant doubt on its ability to continue as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    The planned DayOne data centre is expected to be the city-state’s first to feature on-site solid oxide fuel cell power generation.

    DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More