That's why I advise clients to look at thereafter rates. Don't bet on refinance in future to give u lower rates. It may not happen
That's why I advise clients to look at thereafter rates. Don't bet on refinance in future to give u lower rates. It may not happen
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
The greatest challenge is still the rise of interest rates. Especially so in a downward pressure for rental yield.
Get ready for some panic selling if landlords can't hold too long.
show simi hand? u mean show back side?Originally Posted by CondoWE
only package with reducing spread
http://www.findahomeloan.sg/package-details?fahlpid=155
Package Rates
Year 1 3M SIBOR +1.08% = 1.45667%
Year 2 3M SIBOR +1.08% = 1.45667%
Year 3 3M SIBOR +0.98% = 1.35667%
Year 4 3M SIBOR +0.88% = 1.25667%
Year 5 3M SIBOR +0.78% = 1.15667%
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I'm on 0.75% + SOR for 4 years, 1% + SOR thereafter.Originally Posted by carbuncle
Clinging on on SOR for as long as it makes financial sense
this is what i am very scare of..Originally Posted by newbie11
I took the road less traveled by, and that has made all the difference.” - Robert Frost quotes (American poet, 1874-1963)
Bank of China is next to up the spreads for residential housing loans with effect on 28 Jan. The good news is they will be introducing commercial property loans for individual purchase.
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
OCBC is increasing rates after end Jan. Their Board Rates packages starts from 1.18%.
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
For $200,000 loan and above, they are offering 3M SIBOR plus 0.85% for year 1-3 and increased the spread to 1.25% from year 4 onwards. They also offer free switching to 3M SOR. Read moreOriginally Posted by newbie11
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SBI up the spread for Sibor packages this week
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
The banks are capitalizing on difficulty of borrowers in refinancing with different banks?Originally Posted by newbie11
Increasing has been the trend since last year. Profit margin is not high. With reduced volume and quantum, how do you maintain revenue and profits? Anw sbi is new entrant so I see it as teaser rates to gain mkt share.
U just need some time for banks to offer high Repricing fees and lousy Repricing rates.. Then ppl will consider refin more.
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
http://sg.finance.yahoo.com/news/sin...075325412.html
Source: REUTERS
SINGAPORE, Feb 18 (Reuters) - Singapore's central bank is expected to scrap its U.S. dollar-linked interbank lending rate, according to a banker with knowledge of regulators' reviews into the setting of interest rates following the Libor rate rigging scandal.
The Monetary Authority of Singapore ordered members of the Association of Banks in Singapore in July to review how they set their benchmark interbank lending rates, focusing on the Singapore interbank offer rate (Sibor) and the Swap Offer Rate (SOR).
The order came after U.S. and UK authorities uncovered widespread manipulation of the London interbank lending rate (Libor).
The banker said, in a text message exchange with Reuters, that as a result of those reviews the abolition of the U.S. dollar Sibor was "likely".
The MAS provided no new comment on the matter when contacted by Reuters. In December, the regulator said the reviews were ongoing and it was premature to speculate on their outcomes.
U.S. dollar Sibor is a measure of the cost of borrowing U.S. dollars in the Singapore interbank market, and is used to price loans made by Singapore banks in U.S. dollars. Banks can use alternatives, like the U.S. dollar Libor rate.
The more significant market in Singapore is the Singapore dollar Sibor, which is used as the reference price for many commercial and home loans in the city-state.
The MAS probe was extended in late September when the regulator said banks must also look at how rates for non-deliverable foreign exchange forwards are set.
Reuters reported last month that bank reviews found that NDF rates had been manipulated as well.
Singapore's probe was similar to those launched by other regulators across the globe following last year's Libor scandal, when U.S. and UK authorities unveiled widespread rigging of the London interbank rate, a benchmark used to price more than $500 trillion worth of contracts from derivatives to mortgage rates to credit cards.
U.S. and UK regulators have fined three banks to date - RBS, Barclays and UBS - a total of $2.6 billion for allowing traders to manipulate Libor interbank rates.
Bloomberg reported earlier on Monday that Singapore's central bank was considering ending the city-state's U.S. dollar-linked interbank lending rate. Citing an anonymous source, the report said members of the Singapore Foreign Exchange Market Committee in a Jan. 22 meeting examined the proposal during a discussion of MAS's review of benchmark rates.
The group may instead use the U.S. dollar London interbank offered rate, the article said, with changes expected by June.
Thomson Reuters, parent company of Reuters News, acts as the agent for the Association of Banks in Singapore, collecting and calculating the rates. (Reporting by Rachel Armstrong; Additional reporting by Elzio Barreto and Kevin Lim; Editing by Michael Flaherty and Simon Cameron-Moore)
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wonder what will become of those of us with loans on the SIBOR
Instead of getting to the bottom of it, we make quick exit to avoid the consequences of those who manipulate the rates.