SG Morning Highlights: Mortgage rates may rise a 'few times' in 2022: property expert

Market Trend

Singapore shares opened lower on Monday. The $富時新加坡海峽指數(.STI.SG)$ decreased 0.87 per cent to 3,332.01 as at 9.01am.

Advancers / Decliners is 20 to 126, with 104.54 million securities worth S$79.73 million changing hands.

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Mortgage rates may rise a 'few times' in 2022: property expert

Mortgage rates in Singapore are expected to increase by a "few times," in 2022 amidst faster inflation growth globally, property expert, OrangeTee, said.

But since safeguards like mortgage servicing ratio (MSR) and total debt servicing ratio (TDSR) have already been put in place, OrangeTee believes the majority of flat owners may not be too adversely affected by the rate hikes.

Stocks to Watch
$IFAST(AIY.SG)$ : Fintech platform iFAST Corp posted a near 35 percent year-on-year drop in net profit to S$5.74 million for the first 3 months ended Mar 31, 2022, as global stock market conditions turned sour.

Net revenue for the quarter was 1.2 percent lower at S$28.15 million as an 18.7 percent decline in non-recurring net revenue offset an 8.8 percent increase in recurring net revenue. Earnings per share for the quarter fell to 1.97 Singapore cents, down from 3.22 cents a year ago.

$ParkwayLife Reit(C2PU.SG)$ : The potential acquisition of Mount Elizabeth Novena Hospital by the REIT would raise UOBKH's target price to $5.42.

UOB Kay Hian analyst Jonathan Koh has upped his target price on Parkway Life REIT (PLife REIT) to $4.82 from $4.72 previously after he sees a "potential catalyst in the making".

$Centurion(OU8.SG)$ : Centurion Corporation, on April 22, announced the commencement of the sale process of its portfolio of assets in the US under its US student housing fund.

$Ascent Bridge(AWG.SG)$ : Ascent Bridge is investing S$77 million to acquire stakes in a group of companies that distribute beverages and liquor in Singapore and Malaysia.