mortgage rates

UOB, OCBC to benefit from mortgage rate hikes this year, says DBS

SINGAPORE (Apr 2): DBS Vickers Securities is remaining bullish on Singapore’s banks as a dividend yield play, while highlighting rising mortgage rates as the sector’s bright spot amid higher cost of funds this year.  

In a Tuesday report, analyst Lim Rui Wen says UOB will benefiting from hikes in mortgage rates in 1Q19, as it was the first to increase it Singdollar fixed deposit rates during February this year.

According to UOB, its mortgages based on fixed deposit rates may grow up to 70 basis points.

Singapore is seeing an unprecedented mortgage slowdown

SINGAPORE (Jan 25): Rising interest rates and the latest round of property curbs have put the brakes on mortgage demand at Singapore’s banks, potentially further dragging down the city’s housing market.

Home-loan growth slowed to 1.9% in the first 11 months of 2018, less than half the 4.2% increase posted in 2017, the latest Monetary Authority of Singapore data show. Mortgage growth will stay stuck below 2% this year, according to Diksha Gera, an analyst at Bloomberg Intelligence.

US existing home sales race to more than 9-1/2-year high

WASHINGTON (Nov 23): US home resales rose in October to their highest level in more than 9-1/2 years as homebuyers, buoyed by an improving labor market, took advantage of still-low mortgage rates to snatch up properties after many were shut out during the busy summer selling season.

The jump in sales was further evidence of a pickup in economic growth early in the fourth quarter.

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