Residential rates

[MortgageGuru]

Residential rates lowest in the market now.

1.50 fixed 2 year lock 2 year

BUC rate lowest 1.10, 1.22, 1.28, no lock in board rate.

Floating 1.45 3 years.


Any rates you wish to compare or get can let me know and I'll definitely get the best package in the market for you.

[MortgageGuru]

Interest rate will be rising again in the next couple of weeks!
for owners who have yet to refinance, do get ready your documents required soon and prevent yourself from paying close to 2% soon!

[MortgageGuru]

https://sg.yahoo.com/news/sibor-remains-uptick-013058245--sector.html

The Singapore Interbank Offered Rate (SIBOR) continues its steady upward movement touching 0.67863 percent Tuesday (3 February) last week and remained around the same level towards the end of the week, posting a rate of 0.67288 percent.
SIBOR is a key interest rate at which banks loan to one another and is a commonly-used measure in the cost of funds. The rate has been seen creeping up since the end of last year.
Since the beginning of January, SIBOR has increased by about 50 percent following several years of low and is now at its highest in about five to six years. Currently, it stands at almost double its lowest in record which was 0.344 percent in 2011.
In earlier reports, experts said the 3-month SIBOR is expected to reach around 0.7 percent in June, and could potentially hit 1 to 2 percent at the end of this year, with the continuing weakness of Singapore dollars versus the green back, as well with the US Federal Reserve set to raise interest rates by Q3 this year.
Given this, it is also reported that some home owners are already feeling the pinch with those who took out variable-rate loans on their houses are now seeking to refinance to a fixed-rate loan as SIBOR is also the rate used to determine the interest rate of housing loans. Potential property buyers are also expected to be more cautious in making home-financing decision given the current rate levels.
In a statement to CommercialGuru, Citibank Singapore's Head of Secured Finance and E-Business, Peng Chun Hsien said: "We expect potential property buyers to pay more attention to fluctuations in housing loan interest rates and spend more time to understand the differences in benchmarks rates (e.g. SIBOR rates compared to Board Rates). Housing loan applicants will likely be more interested in the various benefits and features of the housing loan such as cash management facilities enabling a reduction in the interest paid, and SIBOR tenor switches at no cost and lock-in periods."
Echoing this, Colliers International said: "If the uptrend of 3-month SIBOR continues, home owners are expected to service a higher monthly mortgage. Hence, homebuyers should calculate their affordability to service their monthly mortgage carefully before they commit to a property purchase."
It is noted that last year, financial analysts expected the 3-month SIBOR to reach around 0.7 percent in June, and said that it could potentially hit 1 to 2 percent at the end of 2015 as the US Federal Reserve is set to raise interest rates by Q3 this year.
While the increase represents a 50 percent surge, experts noted that the current rating is still well below historic levels and are unlikely to return the rates recorded in the pre-crisis period.




SIBOR likely to hit 2% end of year as according to most bank.
If it only hits 50% conservatively, it will be 1%, add in your spread of 1% will be 2% at least.
Highly likely you'll be paying 2% and above by 2016.

If you're still considering to refinance your loan now, I'll suggest not to think anymore as rates are going through revision frequently right now.
Get into a fixed rate asap, you may PM me and see how I can help you get into the best fixed rate in the market, better than going down to the bank, getting a queue number and wait.

Cheers!

[MortgageGuru]

Interest hike once again

3 years fixed latest at maybank is 1.95% for 3 years with effect from Wednesday.

Previously at 1.65,1.75,1.85% which is just less than 2 month.

Other major bank will be increasing their rates as well soon.

Start to plan your refinancing before it gets worst!

[MortgageGuru]

Dbs increasing their rates!

By end of this week, new floating rates will be 1.6+FHR
increase 0.15% on their spread!

sibor holder should really take a look at this package before its too late!

[3C]

Hi mortgageguru
my loan was taken during BUC at 29 yrs loan SOR floating rates in 2011 (b4 cooling measures). If now i refinance will i be subjected to new rules i.e only can loan up to 65 years old? My loan term will end up much shorter. How the refinance actually works? Is it consider as totally new terms and follow latest cooling measures? Thanks

[Ibuyistay]

you are not affected.
I am in a similar situation and just did my refinancing last week.

[MortgageGuru]

No. Refinancing you can loan up to 75.
many criteria being taken into consideration when you refinance now, not as easy compared to few years back.

[3C]

Thanks for the clarifications.

[MortgageGuru]

Currently interest is at 0.9% and dbs will change their rate today.
rhb changing next 2 week.
FYI