Results 1 to 10 of 10

Thread: 1.0 - 1.2% floating lenders

  1. #1
    Join Date
    Sep 2014
    Posts
    299

    Default 1.0 - 1.2% floating lenders

    Do you think this rate is good for floating?

  2. #2
    Join Date
    Oct 2012
    Posts
    526

    Default

    Not bad wor

  3. #3
    Join Date
    Jan 2009
    Posts
    2,141

    Default

    Looks good. .. which bank? Good rate for how many years?

  4. #4
    Join Date
    Sep 2014
    Posts
    299

    Default

    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?

  5. #5
    Join Date
    Oct 2012
    Posts
    526

    Default

    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...

  6. #6
    Join Date
    Sep 2014
    Posts
    299

    Default

    Quote Originally Posted by Werther View Post
    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.

  7. #7
    Join Date
    Aug 2009
    Posts
    89

    Default

    Are there any banks still giving 1%. The best I got is 1 month SIBOR + 0.8 which comes up to 1.2%.

  8. #8
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    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!
    I already warned about danger of taking up SOR loan quite long time ago!
    More jacking up of SOR rate is yet to come! Avoid SOR loan!

    Quote Originally Posted by SRM View Post
    Are there any banks still giving 1%. The best I got is 1 month SIBOR + 0.8 which comes up to 1.2%.

  9. #9
    Join Date
    Aug 2009
    Posts
    89

    Default

    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.

  10. #10
    Join Date
    Sep 2014
    Posts
    299

    Default

    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.

Similar Threads

  1. Banking on crypto raises risks for traditional lenders
    By reporter2 in forum Coffeeshop Talk
    Replies: 1
    -: 26-02-22, 03:36
  2. Lenders Mortgage Insurance (LMI)
    By Arcachon in forum Finance and Legal
    Replies: 2
    -: 16-04-14, 03:37
  3. Floating or fixed loan...which one is better?
    By xtreme_46 in forum Finance and Legal
    Replies: 7
    -: 06-12-12, 16:40
  4. Replies: 1
    -: 04-09-08, 15:36

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •