The benchmark interest rate in Singapore, which determines the amount homeowners must pay on their mortgage obligations, has continued to rise and may even climb further.
Borrowers may face hundreds of dollars a month in additional repayments, as the Swap Offer Rate (SOR) steadily increases.
On 5 January 2012, SOR stood at 0.53428 percent, down a notch from 0.56185 percent on 15 December 2011. However, this is still above the -0.6987 percent in August 2011.
The SOR has also affected other key interest rates linked to mortgages, such as the Singapore Interbank Offered Rate (Sibor).
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