Fed Rate Hike Ripples Through to Singapore: What It Means for Your Mortgage

Singapore homeowners on floating-rate mortgages should be paying attention this morning. The US Federal Reserve raised its benchmark rate by 0.25 percentage points on September 16 — its first hike since 2023 — and signalled more increases could follow. Here's the domestic catch: Singapore doesn't set interest rates, but the Singapore Overnight Rate Average (SORA), the benchmark pricing many floating-rate home loans, tends to track US rates closely. That means...