Singapore Interest Rate Trends and Mortgage Planning: Bank Rate Comparison Guide
Singapore's mortgage rates in February 2026 have hit 3-year lows, with top fixed rates starting at 1.35-1.48% for the first two years and floating SORA +0.25% spreads available from promotional packages.[1][2][3]
At Homejourney, we prioritize your safety and trust by verifying live bank rates daily, so you can compare DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, and more side-by-side on our bank rates page. This cluster article dives into current interest rate trends Singapore, bank comparisons, and mortgage rate forecast to support our pillar guide on comprehensive mortgage planning.
Current Singapore Interest Rate Trends (Feb 2026)
Rates have declined sharply through 2025 due to falling SORA benchmarks and lower US interest rate expectations, pushing fixed and floating packages below 2% for qualified borrowers.[2][3]
The Monetary Authority of Singapore (MAS) oversees SORA (Singapore Overnight Rate Average), the primary benchmark since banks phased out SIBOR in 2021. 3M SORA and 6M SORA now drive most floating loans, with historical data showing peaks above 3% in 2023 dropping to current lows.[1][2]
Mortgage rate forecast for 2026 predicts further easing if global rates stabilize, but volatility remains—track live 3M and 6M SORA on Homejourney's bank-rates page for real-time updates.[1]
The chart below shows recent interest rate trends Singapore over the past 6 months, highlighting SORA movements and fixed rate adjustments:
As visible in the chart, rates bottomed out in early 2026, creating opportunities for refinancing or new loans—but act before potential rebounds.[3]
Fixed vs Floating Rates: Key Comparison
Fixed rates lock in payments for 1-3 years (e.g., 1.48% for 2 years from promos), ideal for risk-averse buyers like first-time HDB upgraders seeking stability.[1][2]
Floating rates tie to SORA + spread (e.g., 1M SORA +0.25%), offering lower initial costs but payment fluctuations—suited for investors comfortable with market shifts.[1]
| Type | Pros | Cons | Best For |
|---|---|---|---|
| Fixed | Predictable payments; protection from hikes | Higher initial rates; lock-in penalties | First-time buyers, HDB owners |
| Floating (SORA) | Lower starting rates; potential savings if rates fall | Payment volatility; rises with SORA | Refinancers, high-income investors |
Homejourney's mortgage calculator lets you test scenarios instantly, factoring in TDSR limits.
Bank Rate Comparison: Top Packages Feb 2026
For resale condos or HDB refinancing, promo fixed rates lead at 1.45-1.55% (Year 1-2), with Maybank at SORA +0.40%, DBS at +0.28% for longer terms.[1]
- DBS: 2Yr Fixed 1.75%; 3M SORA +0.28%[1]
- OCBC: 2Yr Fixed 1.65%; flexible prepayments[1][2]
- UOB: Competitive promos around 1.55% fixed[1]
- HSBC/Standard Chartered: 1.70%/1.68% fixed; SORA floats[1]
- Maybank: 1.65% fixed; 3M SORA +0.40%[1]
Compare all 11 partners (including CIMB, RHB, Citibank) on Homejourney bank-rates—submit one Singpass application for personalized offers from multiple banks, verified securely.
HDB loans remain fixed at 2.6%, but bank loans now beat this gap—refinance via Homejourney if eligible, but note no HDB return.[1][3]
Mortgage Planning: Actionable Decision Framework
Assess rate planning with these steps:
- Check eligibility: Use Homejourney's calculator for TDSR (60% debt cap) and borrowing power.Bank Rates
- Evaluate risk: Conservative? Choose 2-3Yr fixed. Optimistic on rate prediction 2026? Go SORA float.
- Compare spreads: Lower is better (e.g., +0.25% vs +0.40%), but check lock-ins.[1]
- Time your move: With MAS interest rate trends easing, lock now via Homejourney for promos.
- Refinance smartly: Save $200+/month on $500k loans; connect with our brokers post-application.
Insider tip: For HDB in mature estates like Toa Payoh, pair low-rate banks with Homejourney's property search to find upgrades within budget. Always consult professionals—rates vary by profile.[2]
Explore our related insights: Singapore Interest Rate Trends 2026: Mortgage Planning Guide | Homejourney ">Singapore Interest Rate Trends 2026: Mortgage Planning Guide and What is SORA? How It Impacts Your Singapore Mortgage | Homejourney ">What is SORA? How It Impacts Your Singapore Mortgage.
FAQ: Singapore Interest Rate Trends and Mortgages
What is the mortgage rate forecast for 2026?
Rates expected to stabilize low if SORA eases further, with fixed promos under 1.5% persisting.[2][3]
How does 3M SORA vs 6M SORA differ for planning?
3M resets quarterly (more volatile), 6M semi-annually (smoother)—track both on Homejourney for rate planning.[1]
Should I switch from HDB 2.6% to bank loans now?
Yes if bank rates <2% and you qualify, but prepare for floats; use our tool.[3]
Best bank for first-time buyers?
Promos from DBS/OCBC at 1.48-1.65% fixed; compare via Homejourney for your profile.[1]
Disclaimer: Rates change daily; Homejourney verifies data for trust, but seek personalized advice. Not financial advice.
Plan confidently with Homejourney's transparent tools—visit bank-rates to compare, calculate, and apply securely today. Link back to our pillar: Singapore Interest Rate Trends 2026: Mortgage Planning Guide | Homejourney ">Singapore Interest Rate Trends 2026 Pillar Guide.
