Sora rate

SINGAPORE - Home loan rates in Singapore have hit 3.5 per cent, a high that has not been reached in recent years, as DBS became the latest bank to raise its ...

UOB announced in late September that it was temporarily removing its two-year fixed-rate package at 2.98 per cent per annum and three-year fixed package at 3.08 per cent per annum. OCBC Bank has told The Straits Times that its two-year fixed-rate package offering 2.98 per cent per annum remains in the market. The rate is similar to HDB's loan rate, which is 2.6 per cent per annum At Oct 3 rates, DBS' and UOB's three-month compounded Sora packages are 3.0655 per cent per annum, while OCBC's one-month compounded Sora package is 3.4079 per cent per annum and the three-month compounded Sora package is 3.0455 per cent per annum. To illustrate, a home owner who has a $500,000 loan with a 30-year tenure will pay a monthly instalment of $2,041 at the 2.75 per cent rate. The 3.5 per cent rate is also below the medium-term interest rate floor, which was raised to 4 per cent last Friday as part of the Government's latest set of property cooling measures.