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Singapore Rate Spike to Weigh on Property Prices

A sudden new-year jump in Singapore interest rates threatens to push up mortgage costs and steepen a slide in home prices.

The three-month Singapore interbank offered rate, against which most home loans are benchmarked, has risen 18 basis points to 0.6392 percent this year to the highest since April 2010, driven by a stronger U.S. dollar and new liquidity requirements for Singapore banks.