Singapore News - Great news on the money front. For the past eight quarters, we’ve been chipping away at our debts, and now, our household debt is down to just 1.2 times our disposable income. That’s the lowest it’s been in over 10 years! The MAS just let us in on this in their latest. Read more at www.tnp.sg
Singapore News - Home loan rates have shot past the 4 per cent mark after DBS and OCBC raised their fixed-rate packages on Tuesday. DBS is now offering a rate of 4.25 per cent with tenors of 2 to 5 years, while OCBC has one and two-year fixed rates packages at 4.3 per cent. A DBS. Read more at www.tnp.sg
Singapore News - DBS Bank launched two new home loan packages on Thursday, one targeted at Housing Board flat owners. One of the deals allows new and existing owners of HDB flats who earn less than $2,500 a month to take out a mortgage from POSB, which is part of DBS Group, at an interest. Read more at www.tnp.sg
Singapore News - OCBC Bank has joined DBS and UOB in raising rates for its fixed-rate mortgages. The rate for OCBC's two-year fixed package has been hiked by 0.33 percentage points to 2.98 per cent - the same as
Business News - Singapore households have amassed a larger pile of debt than they had before Covid-19 struck, thanks to a buoyant property market. Hence, households must carefully assess their ability to meet mortgage obligations and those with a heavy debt load should not take on more. Read more at www.tnp.sg