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Home loan rates not coming down yet but banks offering more flexible mortgage packages

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HDB flats, including Sky Habitat condominium in Bishan as viewed from Block 79D Toa Payoh Central on Mar 17, 2022.  

Fixed rates from the three local banks currently range around 2.55 per cent to 2.75 per cent for loan sizes above $1.5 million.

PHOTO: ST FILE

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SINGAPORE – The big cut in United States interest rates last week will have little short-term impact on home loans here.

Local banks said

the 50-basis-point reduction by the US Federal Reserve

had been expected and was already reflected in fixed-rate mortgage packages.

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