Rising interest rates according to some consultants will have little or no effect on the ability of home buyers to meet their monthly payments.

Housing demand will drop with the rise in mortgage costs, but this downturn for The Vales Sengkang is not expected to be significant. Grace Ng of Colliers international’s deputy managing director was quoted as saying, “”This is because interest rates are expected to remain low given that the US economy has yet to see full recovery and Europe has just announced a series of stimulus measures.””

The Vales EC Anchorvale Crescent Sengkang

Banks have to adjust their eligibility requirements for buyers as the TDSR is mandating a higher interest rate of 3.5% on loans on The Vales EC.

This means that owners who have overcommitted to high priced loans or own multiple units may face a further “”cash crunch””, added Ng. Collier’s estimates around 78,402 units …