Noticed my mortgage interest falling for the past 2 to 3 months. whats happening?
Noticed my mortgage interest falling for the past 2 to 3 months. whats happening?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
that is why you should not listen to the bankers and fixed your rate.
Every month, the world is printing hundred of billions of dollars. CM8 coming.
not only that, when u refinance, not only u get lower rate, you also get a "boosted valuation", banks are now desperate to lend u money
Ride at your own risk !!!
Pardon my ignorance. But how to monitor the monthly interest charged? Cos I only get one statement from the bank at the end of the year. Tia.Originally Posted by Ringo33
is yours fixed rate?Originally Posted by chiaseed
Mine's = base rate + sibor. Is that considered fix rate?Originally Posted by eng81157
hmm.. then at end of each sibor period, u should be receiving letter from bank informing you of the next effective interest rate...Originally Posted by chiaseed
so if your loan is based on 1mth sibor, you will receive letter every month
so if your loan is based on 3mth sibor, you will receive letter every 3mth
so if your loan is based on 12mth sibor, you will receive letter every 12mth
no letter so far ?
then should be getting a letter whenever the rate changes. call your bank up to checkOriginally Posted by chiaseed
3 month sibor. But never get letter notifying of rate changes for the past few years. Maybe I should check with the bank.Originally Posted by taggy
low interest rate will be at least still 2020 according to our Helicopter ben, event 10y SGS yield is so low, what do u expect of short term rate like SIBOR
Ride at your own risk !!!
Appreciate some advice on re-pricing and refinance.
Call up UOB for refinance as 3 yr lock in is over.
The banker told me a fee of $500 for re-pricing is needed.
Any difference for re-pricing and refinance. in this case going for other banks will need to pay as well?
Thanks.
I had never been charged for repricing.Originally Posted by sgp_condo
I will avoid uob in future.
Repriced-with same bank
Refinance-with other bank
Anyway, uob packages has not been attractive.
is local bank or foreign bank more attractive? Foreign bank interest rate will spike faster? that is my thought and is there any true to this?Originally Posted by Rosy
If u are taking sibor based loan, why would banks matter?Originally Posted by sgp_condo
I got my loan last year. Foreign bank seems more attractive. Mine was 1 mth sibor + 0.75 throughout.Originally Posted by sgp_condo
Good to know Sibor and SOR are both down. Interest is now only 1% for those who have entered two years ago.
I should engage you to explain to clients who don't think soOriginally Posted by Rosy
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
Refinance to this bank don't need any fees if loan is min 500kOriginally Posted by sgp_condo
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
You've got a very good deal. Need legal fee?Originally Posted by BigBoy
Thanks. I'm looking through.Originally Posted by newbie11
Hi, need advice on interest rate matters.Originally Posted by phantom_opera
Have repriced to a 1+1 @1.18% 10 mths ago (paid a negotiated lump sum penalty for switching from a 3 yr fixed at 1.99%).
Was told that need to confirm with bank again at end yr 1 for next 1.18%.
Qn: is this fixed 1.18% more favorable compared to 0.75+3mth sibor down the year 2013-14 in your opinion?
Go on .XX+SIbor for throughout tenure..once interest rate rises banks wilol increase .XX amount.. better to get the lowest spread while the part lastsOriginally Posted by Reisor
Originally Posted by Reisor
with one option, you have a peace of mind that the rates are fixed. with the other, you potentially stand to save with lower rates.
depends what you want. do a comparison and see whether it is worth paying the difference for having a peace of mind. if it's a couple of hundreds, i would go for it
1.18% fixed is the best deal in town.
1.18% fixed for the whole tenure period?Originally Posted by Rosy
I would not mind 1.5% fixed throughout.Originally Posted by DC33_2008
Wait long long
Ditto!Originally Posted by DC33_2008
Originally Posted by Rosy
Have been paying 1% of less for sometime. Hope to continue for another 2 years.Originally Posted by starrynight
Thank you all for your reply. Looks like it's still a safe call either way as increase / decrease will not be wild. Hoping that 1.18% offer can hold or go lower