Just refinance at 1.78% fixed 3 years. Phew...

[leesg123]

Yup, just did that. Win or lose, dont know. At least can sleep better for the next 3 years.

[TABee]

hmmm... seems good rate. can share which bank offering 1.78% fixed? I asked for a fixed from DBS just 3 weeks ago and it was 2+% which I decided against as I am taking a small bet that SIBOR will drop and if it does not, it will not go up that much. fingers crossed till next SIBOR review.

[MortgageGuru]

hmmm... seems good rate. can share which bank offering 1.78% fixed? I asked for a fixed from DBS just 3 weeks ago and it was 2+% which I decided against as I am taking a small bet that SIBOR will drop and if it does not, it will not go up that much. fingers crossed till next SIBOR review.

not worth a 'bet'

If by next reset date, which likelihood will be a 3 month period usually for people who took up 3 month sibor, by then, you might be looking at a 2.5% first year fixed rate compared to current that's below 2%.

Add into the fact that you'll still have to pay at least another 6 months of SIBOR rate as you have to serve notice on a SIBOR reset date.

If you were to wait till the reset date then make your decision, you are wrong.

The right way is to apply for the fixed rate first, and upon approval, decide again whether you want to take up or leave it, otherwise you'll be facing a potential 2.5% fixed rate by September.