Published:
42% of Singaporeans know people having trouble meeting mortgage payments
More will join if interest rates rose.
"Although the household balance sheet looks healthy on headlines, our sentiment indicators highlight that 42% of the respondents to our survey know of people who are having trouble meeting mortgage repayments or people with mortgage repayments who are living on an extremely tight budget," reports Credit Suisse, citing data from its most recent housing survey.
"46% would become overstretched if monthly instalments rise by up to 30%. We estimate that a 200 bp increase in interest rate implies a 25% increase in mortgage repayments," it added.
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