Mortgage rates here are on the rise and could continue climbing as funds grow tighter.
Many banks have them pegged to a key banking industry rate also known as the Singapore interbank offered rate (Sibor), the rate at which banks lend to each other.
Last year, that rate was Sibor plus 0.8 to 0.9 per cent but it rose to Sibor plus 1.15 per cent earlier this month, a Barclays report this month noted.
The Sibor has been hovering around 0.37 per cent to 0.38 per cent in recent weeks.
This hike could be partly due to Singapore's current very high level of credit as measured by the loan-to-deposit ratio, which at 97 per cent is at its highest level since 1999, Barclays analyst Sharnie Wong noted in the report.
This tightening has led to competition for deposits in recent months and some banks have already hiked mortgage rates by 25 to 35 basis points, she noted.