Should You Lock Fixed Rate Mortgage Now 2026? Bank Rates Guide | Homejourney
Yes, locking in a fixed rate mortgage now in 2026 could be advantageous for risk-averse Singapore homebuyers and refinancers, as rates have fallen to 3-year lows between 1.4% and 1.8%. This Should You Lock in a Fixed Rate Mortgage Now 2026 Analysis: Bank Rate Comparison Guide provides a focused comparison of major bank packages, SORA trends, and decision frameworks. As part of Homejourney's comprehensive mortgage pillar content, this cluster dives into tactical advice for timing your interest rate decision amid falling rates.
Fixed vs Floating Rates in 2026: Key Differences
Fixed-rate home loans lock your interest rate for 1-5 years, ensuring stable monthly payments ideal for budgeting in Singapore's high-cost housing market. Floating rates, pegged to SORA (Singapore Overnight Rate Average), fluctuate with market conditions but can drop further if rates ease.
In 2026, fixed rates start from 1.4% p.a., down from 3.1% in early 2025, while 3M SORA hovers around 1.2% plus bank spreads of 0.32%-1.00%[2][1]. HDB loans at 2.6% (CPF OA + 0.1%) are now less competitive, prompting switches to banks like DBS and OCBC[2].
Fixed vs floating 2026 choice depends on your risk tolerance: fixed suits families prioritizing certainty, floating appeals to investors betting on Fed cuts[2].
| Aspect | Fixed Rate | Floating (SORA) |
|---|---|---|
| Rate Stability | Locked 1-5 years | Variable monthly |
| Current 2026 Rates | 1.4%-1.8%[2] | 1.2% SORA + 0.32%-1.00%[1][3] |
| Best For | Budget certainty | Potential savings if rates fall |
| Risk | Miss lower rates later | Payment hikes possible |
Homejourney prioritizes your safety by verifying rates daily—track live 3M and 6M SORA on our bank rates page.
2026 Bank Rate Comparison: Top Packages
Compare rates from Homejourney's partner banks for HDB and private properties. Minimum loans often $500k qualify for best rates; use our mortgage calculator for personalized estimates[3][1].
- DBS: 1.50%-1.78% fixed Year 1-2 (min $500k-$700k), then 3M SORA +1.00%; 100% sale penalty waiver[3]. Saves ~$500/month vs prior 3% rates[2].
- OCBC: 1.40% 2-year fixed flexi; HDB switchers save $4,100/year on $500k loan[2].
- UOB/HSBC/Standard Chartered: 1.4%-1.8% fixed; check spreads via Homejourney[1].
- Maybank/CIMB/RHB: Competitive floating from 1.12% effective[6].
The chart below shows recent interest rate trends in Singapore to visualize SORA and fixed movements:
Rates have stabilized low, but Fed signals modest 2026 cuts—fixed locks in gains now[2]. Compare all on Homejourney bank-rates side-by-side.
When to Fix Rate: Rate Timing Strategy
Lock in fixed rate now 2026 if your lock-in ends soon or you're refinancing from HDB 2.6%. Experts predict modest easing, making current 1.4%-1.8% attractive[2]. Avoid if expecting major drops—floating follows SORA closely[1].
Decision framework:
- Assess risk: Conservative? Fix now.
- Calculate impact: $500k loan at 1.6% fixed vs 1.2% SORA +0.5% saves predictability.
- Check eligibility: TDSR caps at 55% debt; use Homejourney calculator.
- Time repricing: No penalties post-lock-in[2].
- Apply multi-bank via Singpass on Homejourney for best offers.
For deeper analysis, see our pillar on Singapore mortgages and related cluster Should You Lock Fixed Rate Mortgage Now? 2026 Singapore Analysis | Homejourney . Homejourney builds trust with transparent comparisons, verified data, and user feedback-driven updates.
Actionable Steps on Homejourney
1. Visit https://www.homejourney.sg/bank-rates: Compare DBS, OCBC, UOB instantly.
2. Use mortgage calculator: Input income, find borrowing power.
3. Submit one app via Singpass: Get personalized rates from all partners.
4. Search properties: Match budget on property search.
Disclaimer: Rates change; consult Homejourney mortgage brokers. Not financial advice—verify with MAS guidelines.
FAQ: Should You Lock in Fixed Rate Now 2026?
Q: Is now a good time to lock fixed rate mortgage 2026?
A: Yes, with rates at 1.4%-1.8% lows—better than HDB 2.6%[2]. Use Homejourney for live tracking.
Q: Fixed vs floating 2026—which wins?
A: Fixed for stability (80% choose it); floating if risk-tolerant[2]. Compare on our platform.
Q: How to compare bank rates?
A: Side-by-side on Homejourney bank-rates—includes rebates up to $2,800[3].
Q: What is SORA impact?
A: 3M SORA at 1.2% + spread; chart above shows trends[1].
Q: Refinancing costs?
A: Minimal repricing fees; full refinance ~$2k-5k legal/valuation—calculator helps[2].
Ready for your rate timing strategy? Start at Homejourney bank-rates for safe, trusted decisions. Link back to our mortgage pillar for full coverage.
