Mortgage debt manageable for most S’pore households but interest rate shocks pose risks: MAS

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The Straits Times 2 mo ago

Mortgage debt manageable for most S’pore households but interest rate shocks pose risks: MAS - The Straits Times

Quick Summary:

November 25, 2022 1:00 PM - Borrowers should exercise prudence to cushion against rising interest rates and inflation, says MAS.

After dipping in the first quarter this year, new housing loans gradually picked up in subsequent quarters, mirroring rising sales and prices in the private residential property market.

Still, the results of MAS’ stress tests show that most households appear to be resilient to income and interest rate shocks, and the proportion of non-performing mortgage loans is likely to remain low.