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PR Newswire
14-01-2016, 04:31 PM
The interest rates are on their way up, albeit slowly now...
Singapore mortgage benchmark rates climb to seven-year high
SINGAPORE (Jan 14): Singapore short-term interest rates used to set mortgages surged to a seven-year high on speculation central bank activity in the currency market is resulting in rising borrowing costs.
"The authorities are buying their currencies and selling US dollars," said Hideo Shimomura, the chief fund investor in Tokyo at Mitsubishi UFJ Kokusai Asset Management. "They are absorbing liquidity from the market. The money market is drying up."
The three-month Singapore interbank offered rate climbed to 1.25300%. The three-month swap offer rate advanced to 1.76235%. The figures are at the highest levels since October 2008, according to data compiled by Bloomberg. While both are used to set mortgage rates, Sibor-based loans are more common, according to PropertyGuru Pte's website.
...
http://www.theedgemarkets.com/sg/article...-year-high
Singapore mortgage benchmark rates climb to seven-year high
SINGAPORE (Jan 14): Singapore short-term interest rates used to set mortgages surged to a seven-year high on speculation central bank activity in the currency market is resulting in rising borrowing costs.
"The authorities are buying their currencies and selling US dollars," said Hideo Shimomura, the chief fund investor in Tokyo at Mitsubishi UFJ Kokusai Asset Management. "They are absorbing liquidity from the market. The money market is drying up."
The three-month Singapore interbank offered rate climbed to 1.25300%. The three-month swap offer rate advanced to 1.76235%. The figures are at the highest levels since October 2008, according to data compiled by Bloomberg. While both are used to set mortgage rates, Sibor-based loans are more common, according to PropertyGuru Pte's website.
...
http://www.theedgemarkets.com/sg/article...-year-high
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