Fixed home-loan rates reset higher after the Fed hike

Top stories

• Fixed mortgage packages repriced higher. Since the US Federal Reserve's 16 September hike, bank fixed-rate packages have risen by 0.30 to 0.77 percentage points; a two-year fixed rate on a $500,000 private home loan moved from 1.60% to 2.15%, and three-year rates now sit slightly above two-year rates for most loans. EdgeProp
• Four men to be charged over $6 million home-loan ruse. Police say the group impersonated a homeowner and used forged documents to seek loans against his property without his knowledge; the owner raised the alarm after finding a caveat lodged on his home. The Straits Times
• Wisteria Mall put up for sale. Schroders is reportedly seeking about S$220 million for the Yishun mall through an expression of interest exercise by Knight Frank and Savills closing in late November; it was bought in 2022 for S$208 million and is 93% occupied. The Business Times
• Half stake in Nex on the market. The 50% stake mostly owned by China Investment Corp is understood to carry a S$1.2 billion to S$1.25 billion price tag, above the mall's S$2.26 billion valuation; Frasers Centrepoint Trust holds a right of first refusal. The Business Times
• Yishun executive flat sets a town record. A 1,765 sq ft unit at Block 652 Yishun Avenue 4 resold for $1.329 million ($753 psf), $40,000 above the previous Yishun high. Stacked Homes

New launches watch

• Quiet weekend for launches. No new condo previews or launch results were reported over the weekend; URA's October developer sales figures are usually released in mid-November. EdgeProp

Numbers

• 1.32% Three-month SORA as of 9 November, up from a low of 1.02% on 29 April. EdgeProp
• 225 Fixed-rate packages available on 9 November, down from 275 on 15 September. EdgeProp
• About $110 a month Estimated extra interest in the early years on a $500,000 floating-rate loan after the SORA rise. EdgeProp
• $1.329 million New resale record for a Yishun executive flat. Stacked Homes

Sources

• EdgeProp – Could mortgage rates rise further? What bank packages in Singapore are signalling after Fed hike
• The Straits Times – Four men set to be charged over ruse to get $6m in home loans
• The Business Times – Schroders seeking sale of Wisteria Mall
• The Business Times – China Investment Corp, PGIM's 50% stake in Nex mall up for sale
• Stacked Homes – Yishun executive flat crosses $1.3 million

These are summaries in our own words of publicly reported news, for general information only and not financial advice. Please refer to the original sources for full details. Prices and figures may change.