Singapore home loan rates start upward climb

Singapore

ALL three local banks have raised their home loan rates as interest rates continue to spike - and mortgage advisers warn of more hikes to come.

DBS Bank, OCBC Bank and United Overseas Bank (UOB), which collectively account for the lion's share of the housing loan market, have increased the interest rates on their fixed-rate and floating-rate packages since last month.

DBS and UOB have jacked up the interest rate on their three-year fixed-rate loans by 10 per cent a year. The fixed-rate packages now se…