SOR rate holder- Its high time to manage your loan!

[mummy]

Any contacts for MB to call or email for this fixed rate package?

You can just call Maybank hotline number and someone will call you back very soon which is what I did...very efficient...the guy emailed me the rates soon after I called and stays back late frequently so I could meet him at 8pm tonight..

[mummy]

There r a few packages, some with legal subsidy with sl higher rates, mine has no legal subsidy but he worked out still better so I went with that..

[pmet]

All these refinancing won't work one lah! I mean come'on let's be realistic. How much do you save for another 3yr of fixed rate? Usually when ppl take loan it's more than 20yrs so what's 3yrs? If you can see the direction we're moving towards, it's going to be grim for the next several years. I'm fully prepared for the increased interest rates and like those guys on MCF say, if you can't afford the fuel don't buy a car (referring to those who go to JB for a pump)!

That said, alot of Singaporeans are living on the edge today.

[teddybear]

Think people can hedge against rising interest rate?

All these refinancing won't work one lah! I mean come'on let's be realistic. How much do you save for another 3yr of fixed rate? Usually when ppl take loan it's more than 20yrs so what's 3yrs? If you can see the direction we're moving towards, it's going to be grim for the next several years. I'm fully prepared for the increased interest rates and like those guys on MCF say, if you can't afford the fuel don't buy a car (referring to those who go to JB for a pump)!

That said, alot of Singaporeans are living on the edge today.

[prop1688]

yup, i did my refinancing last aug.

[pmet]

Think people can hedge against rising interest rate?

Why hedge when you have a huge cash buffer?

[Ling Ping]

All these refinancing won't work one lah! I mean come'on let's be realistic. How much do you save for another 3yr of fixed rate? Usually when ppl take loan it's more than 20yrs so what's 3yrs? If you can see the direction we're moving towards, it's going to be grim for the next several years. I'm fully prepared for the increased interest rates and like those guys on MCF say, if you can't afford the fuel don't buy a car (referring to those who go to JB for a pump)!

That said, alot of Singaporeans are living on the edge today.

May I know what is the interest you are paying for your mortgage at the moment?

[pmet]

May I know what is the interest you are paying for your mortgage at the moment?

The FED hasn't even touched interest rates and ppl are already fumbling. I can't be bothered with these little savings and went with float. It's actually optional and it keeps my bank happy.

[teddybear]

Rates likely to stay low for a very long time and it will be at a NEW NORM (about half of OLD NORM)..........
Those taking fixed rate loan now may not be the right choice after all!

The FED hasn't even touched interest rates and ppl are already fumbling. I can't be bothered with these little savings and went with float. It's actually optional and it keeps my bank happy.

[teddybear]

Another day has passed, and SOR shot up again, this time by 15.9% in 1 day!!!!!!! :

3M SIBOR : 0.62052%
3M SOR : 0.92956

Surprisingly SIBOR dropped!
I hard warned about risk of SOR loan before. Hope nobody here took up SOR or could refinance if having SOR floating loan...
If you are with SIBOR, you could hedge it!

today SIBOR 3M 0.637, and SOR3M 0.802 already.

every one is expecting SGD to drop