Home loan rates expected to remain high before dipping in 2024. What should home owners do?

With rising interest rates, many home owners are now considering their circumstances and weighing the options on how best to manage their mortgages in the months ahead. PHOTO: ST FILE
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SINGAPORE – Home owners here can expect mortgages to go higher in 2023 as interest rates in the United States continue moving up, extending the trend of higher rates in 2022.

UOB expects the US federal funds rate to go up by another 0.75 percentage point to 5.25 per cent in the first quarter and remain at that level for the rest of the year.

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