Banks Raise Rates

Banks have quietly increased rates for their new fixed-rate loans by as high as 1% recently. The higher fixed rates may encourage buyers to take up loans that are linked to Sibor or SOR which offer rates transparency. However, some banks have also raised their SOR-linked mortgages by as much as 1%.

At a glance ... ...
UOB, OCBC: 3yr fixed-rate fr 2.98% to 3.68%
Std Chart: 2yr fixed-rate fr 2.68% to 3.78%

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Property market gets another bucket of cold water.