Yesterday heard one of my FRD receiving saying -- they might be expecting an announcement this Friday by IRAS on mortgage service ratio (MSR). Currently at 40% of income to service housing loan . Anyone know about this ?
Yesterday heard one of my FRD receiving saying -- they might be expecting an announcement this Friday by IRAS on mortgage service ratio (MSR). Currently at 40% of income to service housing loan . Anyone know about this ?
Maybe Reduce to 30% of income like what they are doing for HDB
Each time there is a CM, it's effective the next day. So those who have the letter of offer from banks (pending acceptance ), will be safe from this possible measure?
the speculation is so rife that now i think its unlikely haha.
its too soon after the Jan measures, yet to see impact yet.
I think highly unlikely. Firstly, it seems too soon to come out with another CM. Secondly, the number of transactions are really very very low so it has somewhat cooled. Thirdly, DSR can be tweaked via MAS regulations to banks. No need for CM.
Anyway, HDB flats are already subjected to 30% DSR if I am not wrong. Still, if this friday they announce, then I really foresee the number of transactions will drop below 500.
Originally Posted by Noexit
i think the whole singapore heard of this rumours, because i oso heard of it this morning (being the least informed among my friends).Originally Posted by bargain hunter
some agent spread rumours to speed up sales izit?
Ong lai ah!
Do you know whether it will be limited to HDB, or applied to all housing loan?Originally Posted by Noexit
I think there is a possibility of this CM, since Tharman said
property prices are not yet at an acceptable level.
resale hdb already 30%.Originally Posted by buttercarp
I think too soon for another CM bah
Why not? When you have at least 3 properties, Triliq, Sennett R, and another at mount vernon, hitting the market this month?
Why is Tharman hurting the agents?
Rumored to extend the 30% msr cap on hdb to private. That's a killer. Even if you have savings to pay for down payment and absd, u may not earn enough monthly to fall within this cap.
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CCR die pain pain if that is the case
Ride at your own risk !!!
CCR already die pain pain with CM7. With 40% DSR, I think should have no transaction at all.
Originally Posted by phantom_opera
Dont waste time on this lah. there will be no CM this coming friday.
Happy property shopping bro and sis. Dont need to worry
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
already u said it's rumour mah .. juz like last time pp rumoured abt some big figure kicked the bucket prior to national b-day .. aiyo
Highly unlikely? Government already give hint... Price of property is not at an acceptable range.... I believe property cooling is one of the key point that government is doing to keep operation cost low in Singapore. Lower property price = Lower rental = Lower cost of operation.
MAS will not leak out information like this for sure. Even if they do, it wont be so soon lah. CM7 just announce in Jan and we had that CNY break. You think they will be so smart to come out with CM8 so soon meh.
Lets wait lah, CM8 will come when the market lease expected it.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
5, still got urban vista and d'nest.
Originally Posted by DC33_2008
thurs sales starts for trilliniq and sennett so they spread rumour that cooling measures on friday to speed up the sales? highly likely.
Originally Posted by onglai
yes, there may be further cooling but prob not this friday.
Originally Posted by RCT
Property must be so boring that people are trying to anticipate the next CM. Lol.
The implementation date is rumor. The measure is not..
http://www.btinvest.com.sg/personal_...oans-20130209/
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
Jokers, market already freeze. Can still cool meh? "Mah Tu Liao" also went hiding liao coz it is too cold here already
Originally Posted by curio
u are actually quite rite.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
yup, in particular:
"When contacted, MAS would not comment on whether it has any impending plan to extend a prescriptive MSR cap to private home mortgages (like the one it imposed on HDB flats as part of last month's property cooling measures). However, it confirmed advising financial institutions (FIs) that they should also consider applying the MSR to loans and refinancing facilities for private residential properties. "In addition to applying a MSR for HDB flats, MAS expects FIs to continue to be prudent in assessing the repayment ability of borrowers for all residential property loans," it added.
Talk in some circles is that MAS could roll out a more prescriptive cap on MSR for private home loans after it reviews an audit of banks' home mortgages portfolio conducted late last year."
bro, since u r in the home loan biz, assuming the 30% MSR is implemented. does that mean asset based financing is dead? surely pay 50% downpayment and borrow 50% is already very very safe for the banks?
Originally Posted by newbie11
Originally Posted by thomastansb
depeg sibor from US and up int rate! then CCR will have durian to pick.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
Originally Posted by cnud
coz everyone complain house expensive mah. agents enjoyed 5yrs of boomed. time for them to take a break go holiday and get some sun in Maldives.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
If they up rates, hot money will flow in here faster than we can shout huat leh. Then the inflation could be problematic.Originally Posted by minority
assuming MAS implement the MSR one of the immediate impact I presume will be rental hike across all property sector as rental income will be consider as income I presume?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
eh, don't bother talking deep stuff with that moron. doesn't usually end well.Originally Posted by kane