Singapore interest rate jump to weigh on property prices
It may also raise mortgage costs; Mizuho says home prices could fall a further 10% by mid-2016
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Singapore
A SUDDEN new-year jump in Singapore interest rates threatens to push up mortgage costs and steepen a slide in home prices.
The three-month Singapore interbank offered rate (Sibor), against which most home loans are benchmarked, has risen 18 basis points to 0.6392 per cent this year to the highest since April 2010, driven by a stronger US dollar and new liquidity requirements for Singapore banks.
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