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Navigating the Transition from Cyper to Sora: What Homeowners in Singapore Need to Know
A Major Shift in Singapore's Benchmark Interest Rates
Beginning December 31st, Singapore will bid farewell to the traditional Cyper (Singapore Interbank Offered Rate) and adopt Sora (Singapore Overnight Rate Average) as the new benchmark for SGD home loans and transactions.
This transition signifies a pivotal change in how interest rates for mortgages are calculated. While Cyper represented the expected borrowing rate among banks—an estimate based on anticipated rates—Sora reflects the actual overnight interbank transactions, making it a more transparent and stable indicator.