DBS home loan rates

2022 - 6 - 29

dbs home loan

Post cover — Image courtesy of "Bloomberg"

Singapore's Biggest Lender DBS Raises Mortgage Rates: ST (Bloomberg)

Singapore's largest lender DBS Group Holdings Ltd. has raised the rates on all its home loan packages as of Tuesday, The Straits Times reported, as it joins ...

DBS raises home loan rates to 2.75% per annum, highest among ... (The Business Times)

The higher interest rates come in an economic climate where most seem to be expecting further rate hikes from the US Federal Reserve after Fed chair Jerome ...

DBS raises fixed home loan rate, scraps 5-year fixed package: report (Singapore Business Review)

DBS Bank has raised its two-year and three year fixed home loan rate to 2.75% per annum, reports Bloomberg, based on a local report.

The bank raised the rate on its two-year fixed rate package by 0.3 percentage points to 2.75% per annum, while the three-year fixed rate package is now 0.15 percentage points higher at 2.75% per annum. Singapore’s largest lender raised the rates on all its home loan packages on 28 June and scrapped its five-year fixed rate package for owners of public housing apartments. DBS Bank has raised its two-year and three-year fixed home loan rate to 2.75% per annum, reports Bloomberg, based on a local report.

S'pore Banks Increase Rates For All Home Loans, DBS' Fixed Rate ... (Must Share News)

DBS, along with other local banks, has increased rates for its home loans as a result of spiking interest rates from the US Federal Reserve.

As for UOB, its Sora floating package has remained at a three-month compounded Sora and 0.8% per annum. The bank’s two-in-one home loan package allows borrowers to apply for 50% of their loan amounts under a fixed rate package and the rest under a floating rate package with special rates. Since then, the US central bank has risen rates twice more in May and June. For DBS, its Sora floating rate package increased by 0.2%, now at a three-month compounded Sora alongside a margin of 1% per annum and a two-year lock-in. For OCBC, its Sora package fell to a one-month compounded Sora and 0.98% per annum. The two-year fixed rate package by UOB has increased by 0.3% to 2.65%. OCBC also hiked its rates by 0.4% to 2.65% per annum for two-year fixed packages.

The Big Story: What higher bank mortgage rates mean for home ... (The Straits Times)

Catch the latest news reports on The Big Story, The Straits Times' weekday online news programme. Read more at straitstimes.com.

Separately, the show segment of this year's National Day Parade is directed by veteran actor Adrian Pang, whose creation will take viewers on a journey through the last two years of Covid-19 and celebrate Singapore's emergence from the public health crisis. The move comes after its peers UOB and OCBC raised the rates on their home loan packages last week, tracking an interest rate hike by the US Federal Reserve earlier this month. Singapore's largest lender DBS Bank has raised the rates on all its home loan packages as of Tuesday night (June 28), according to checks by The Straits Times.

DBS raises 2-year fixed home loan rate to 2.75% per annum ... (The Business Times)

DBS has just raised its rates on all home loan packages to 2.75 per cent per annum, placing it the highest among the trio of local banks. Read more at The ...

CNA Explains: Where are mortgage rates in Singapore headed and ... (CNA)

SINGAPORE: Home owners in Singapore will have to brace themselves for higher mortgage repayments as local banks continue to raise interest rates for their ...

“If you want to know the outlook for interest rates, just look at the fixed rate packages which have jumped to more than 2.6 per cent. “Ideally, one should set aside some savings in cash or liquid assets that can be used to pay for their monthly instalments for the next two years. They can also consider increasing the use of CPF for their monthly loan repayments, said Mr Wee. DBS on Tuesday raised the rates on all its fixed rate packages to 2.75 per cent per annum. After adding the banks’ (lending margin), floating rate packages may be 2.6 per cent or higher. And that’s just for this year; we haven’t even started talking about next year if inflation rates do not come down.” “Singapore is an interest rate taker due to its small and open economy. Coupled with an open capital market, Singapore’s interest rates are hence largely determined by global interest rates, especially that in the US which is the world’s biggest economy. Echoing similar projections, Mr Wee said that based on expectations for the three-month compounded SORA to hit 2.5 per cent and assuming a margin of 0.8 per cent, home owners may potentially be looking at a net rate of 3.3 per cent for floating rate home loans in the next few months. He added that while it is common for banks to offer higher fixed rates for longer tenures, the bank has set its three-year fixed rate home loan at the same rate as its two-year loan. This compared with 2.45 per cent for a two-year fixed loan and 2.6 per cent for a three-year loan prior to the latest revision. Mr Nelson Neo, head of home financing solutions at DBS Consumer Banking Group, said the bank’s home loan rates and packages are reviewed and adjusted to reflect movements in interest rates following the Fed’s rate hikes.