The Big Story: What Higher Bank Mortgage Rates Mean for Homebuyers


Check out the latest stories on The Big Story, the Straits Times’ weekday online news program.

Singapore’s biggest lender, DBS Bank, raised rates on all of its home loans from Tuesday evening (June 28), according to Straits Times verifications.

The bank has also scrapped its five-year fixed rate scheme for Housing Board homeowners, which previously offered loans at 2.05%.

The move comes after peers UOB and OCBC raised rates on their home loans last week, following an interest rate hike by the US Federal Reserve earlier this month.

Investing Editor Tan Ooi Boon explains what this means for homeowners with existing loans. He also shares tips for those looking to buy their first home.

Separately, this year’s National Day Parade show segment is led by veteran actor Adrian Pang, whose creation will take viewers on a journey through the last two years of Covid-19 and celebrate the release of Singapore from the public health crisis.

Pang, 56, who is the co-founder of local theater company Pangdemonium, will bring his acting chops to direct The Story Of Us. The show is expected to air to a live audience of around 25,000 to 26,000. on the floating platform in Marina Bay, while being broadcast live on the TV screens of millions more.

More than 2,000 artists have rehearsed in recent months for the show.


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