What is the best mortgage rate available now

The best mortgage rates currently available in Singapore are starting from around 1.70% for fixed packages, with floating rates for completed properties also highly competitive and typically based on the prevailing SORA benchmark with a small spread. These rates are generally offered for larger loan amounts and are subject to specific qualifying conditions.

The mortgage rate environment in Singapore has become more favorable in 2025, influenced by recent global trends and expectations of interest rate cuts. Fixed home loan rates have dropped noticeably from previous years, with some banks offering promotional packages below 2%. Floating rates are typically pegged to the prevailing SORA (Singapore Overnight Rate Average), and recent reductions by the US Federal Reserve have led to more competitive floating rates as well.

It’s important to note that the lowest rates are usually available for loan amounts above a certain threshold, commonly $500,000 and above. Packages vary by lender, with differences in tenure, lock-in periods, and requirements. There are currently no long-term fixed rates, as Singapore generally offers fixed rates for up to five years, after which the package reverts to a floating rate.

To ensure you get the best rate and package for your needs, compare prevailing rates, review the terms and flexibility of each package, and consider consulting a mortgage specialist. EdgeProp Singapore provides tools such as affordability calculators and market trend trackers to help you make informed property and home financing decisions within the Singapore market.