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View Full Version : 1.0 - 1.2% floating lenders


MortgageGuru
10-11-14, 14:35
Do you think this rate is good for floating?
Werther
10-11-14, 17:57
Not bad wor
Allthepies
10-11-14, 18:08
Looks good. .. which bank? Good rate for how many years?
MortgageGuru
10-11-14, 18:23
1.0% below can be good but anything near 1.1% is actually considered average as most floating lenders are hitting 1.15-1.3%
The reason for taking up a floating package is because of a lower rate than fixed.
But right now if having fixed rate that is as competitive to floating then what's the point of holding on to a floating rate?

Question 2: Why don't floating lenders take up fixed rate if that's the case?
Werther
10-11-14, 21:43
Hi mortgage guru

My bank only offer best 1.6% for fixed 2 year, ocbc.

Any chance to negotiate for better rate, in yr opinion... As my outstanding is small, not advisable to switch bank...
MortgageGuru
10-11-14, 21:55
Hi mortgage guru

My bank only offer best 1.6% for fixed 2 year, ocbc.

Any chance to negotiate for better rate, in yr opinion... As my outstanding is small, not advisable to switch bank...

Usually re-pricing won't get you a good rate compared to refinancing.
SRM
10-12-14, 19:14
Are there any banks still giving 1%. The best I got is 1 month SIBOR + 0.8 which comes up to 1.2%.
teddybear
10-12-14, 20:33
Still got 1-mth SIBOR loan deal? What is the catch?
So far I see all the better deals are 3-M SIBOR package ones...
Got 3-M SOR good deal but that was before SOR went up by so much!
Today, 3-M SOR is now higher than 3-M SIBOR by >0.07% (from being <0.2% a month ago!)! SCARY SOR! :mad-new:
I already warned about danger of taking up SOR loan quite long time ago! :neglected:
More jacking up of SOR rate is yet to come! Avoid SOR loan!


Are there any banks still giving 1%. The best I got is 1 month SIBOR + 0.8 which comes up to 1.2%.
SRM
10-12-14, 20:52
Almost all the deals I got was 1M Sibor. 1M Sibor now is 0.37 while 3M Sibor is 0.4. Not sure whats the catch but still trying to figure out the best bet. Lot of speculation on interest rates going up in future but when I look at 1M and 3M, the 1M is actually lower than 3M.
MortgageGuru
10-12-14, 22:09
Currently for floating I will recommend FHR from DBS.
FHR is a fixed home rate from DBS which is much stable compared to SIBOR/SOR
Btw, SOR has already phased out from most bank as it's not reaping them much profit.
If anyone interested on FHR trend can PM me for more details as I've the chart for it.