Vulnerabilities emerging as home loan rates stay high in Singapore

SINGAPORE -

High interest rates in the US

have filtered down to Singapore, driving up the costs of a mortgage, which is one of the biggest financial commitments for most households.

As a result, vulnerabilities are emerging in some segments of the population – such as those earning less than $5,000 a month and those aged 59 to 77 – according to a DBS Bank study and the latest trends report from the Central Provident Fund (CPF) Board.