SINGAPORE: The era of ultra-easy money is drawing to an end for Singapore mortgage holders, with domestic interest rates rising at their fastest pace in a decade in a country that already ranks among the world's most expensive places to live.
The three-month Singapore inter-bank offered rate (Sibor), used to set floating-rate mortgages, climbed to 0.78756 percent on Tuesday. It has gained 33 basis points so far this year, exceeding all the annual increases since 2005.