What is the current borrowing rate

As of the current projections for 2025, the borrowing rates for mortgages in Singapore are influenced by the Singapore Overnight Rate Average (SORA), which is a key benchmark.

- The 3M SORA, a common reference for mortgage rates, is expected to decrease from around 3.3% at the end of 2024 to approximately 2.5% by the end of 2025.
- Current mortgage rates for residential properties in Singapore are typically in the range of 3.3% to 3.8%, depending on the lender and the specific loan package. For example, some floating rate packages are around 3.38% to 3.43% in the first two years, and then adjust based on the SORA rate plus a margin.

These rates are subject to change based on global economic conditions, particularly the US Federal Reserve's interest rate policies, and local economic factors. For the most up-to-date and specific rates, it is advisable to check with major banks such as DBS, OCBC, UOB, and others, as they frequently update their mortgage rates.