Posted by luxuryasiahome on September 6, 2008
HOMEBUYERS and sellers, hit by the recent market malaise, have at least one comforting constant in a market plagued by uncertainty - low interest rates.
Despite various economic woes - inflation, volatile oil prices, slowing economic growth - Singapore’s banks are continuing to offer rock-bottom mortgages.
The latest to reaffirm Singapore’s low interest rate home loans environment was Malayan Banking (Maybank), which yesterday launched a new three-year variable home loan that offers a low interest rate of 1.68 per cent a year for the first year.
Still, after that, the rates increase to 2.48 per cent for the second year and 2.88 per cent in the third.
Maybank’s new package followed two other home loan launches by Standard Chartered Bank (Stanchart) and HSBC.
Both offer competitive interest rates, albeit through slightly more creative housing loans that are pegged to the Singapore Interbank Offered Rate (Sibor).
Stanchart’s MortgageOne Sibor is priced at 0.9 per cent a year above the three-month Sibor for the first three years.
It comes with a unique offset feature that allows customers to use the interest earned on their deposits to reduce the interest payable on their home loans.
HSBC’s latest Sibor-pegged home loan comes with a progressive interest rate reduction feature - the first of its kind here.
On top of the prevailing three-month Sibor rate, customers pay an additional interest of 0.75 per cent in the first year. The rates fall to Sibor plus 0.65 per cent in the second and, from the third year onwards, Sibor plus 0.55 per cent.
With interest rates so low, many home owners naturally consider refinancing their home loans with packages that are pegged to a faltering Sibor.
DBS Bank head of deposits and secured lending Koh Kar Siong said Sibor-pegged loans offer customers more transparency and also allow them to enjoy lower interest rates in the current market environment.
Mr Gregory Chan, OCBC Bank’s head of secured lending, agreed. He said OCBC customers preferred home loans pegged to market rates because these are ‘more transparent and bear greater significance for consumers during uncertain times’.
Source : Straits Times - 6 Sep 2008
Monday, September 8, 2008
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2008
(752)
-
▼
September
(64)
- 龟屿进香时节又到
- 3400单位新组屋年底前推出
- 美国标准普尔500指数
- 海峡时报指数(STI)
- 榜鹅执行共管公寓地段招标
- “末日博士”麦嘉华:我看好新加坡甚于香港
- 台湾《天下》杂志文摘 新加坡要变成Fun City
- High-end home market going off the boil
- 資金緊缺地產商陸續降價 中國樓價下跌或剛剛開始
- 海氏集团全球调查:港泰中经理在亚洲消费力最强
- 丹那美拉地铁站 (Tanah Merah MRT Station,代号EW4) 对面 私宅地段吸引七方投标
- 城市发展 (2008-09-10)
- 京滬等城市大多數居民房價收入比遠超國際水準
- 武漢待售房“全國第一”後遺症:降價引發集體退房
- 萬科敢於降價宣言被指屬實
- Size up home supply again
- Silversea - Located in Marine Parade Road. Leaseho...
- 30 units sold at Martin No. 38
- Experts say Singapore won’t be spared from market ...
- 上海二手屋指數22個月來首次下跌 新房促銷價直逼二手價
- 上海二手房指數近兩年來首跌 世紀公園跌幅最大
- 任志強:真正的冬天還在後頭
- SC环球马丁路38号公寓 首30个单位找到买家
- 《謝國忠》三○年經濟最大調整在即
- 南京萬科打7.7折 河西精裝房8800元/平叫賣!
- 分析员:恒指明年可望上2万7500点
- Serangoon Gardens: Where 5,000 expats call home
- Mortgage rates still at rock bottom
- 5000读者享文化盛宴
- “醉花林”7000万元新会所动土
- 美国“两房”被接管 港股料喘息
- 雷曼兄弟预测我国经济增长 从4.3%调低至3.2%
- 雷曼兄弟:楼市转淡声中 中档私宅下跌危机最大
- 海峡时报指数(STI)
- A股盈利急跌意味着什么?
- 美国签证 国人赴美明年起须上网登记 现已开始试行
- 世界级龙狮队 河畔翩翩起舞
- 萬科公司債票面利率處下限
- Reboot Your Workflow This Fall
- 程宗楷:年輕人要像水庫,迅速累積能量
- 做自己的教練 標簽: 鍛鍊 《30雜誌》撰文=吳永佳
- 人民日報談斷供現象:樓市調控決不半途而廢(圖)
- Economists lower growth forecast
- What goes up will also come down
- 月圆河畔庆中秋 红河州歌舞团呈献少数民族歌舞
- 美林:新兴市场股票 再跌10%即可买进
- 亚洲货币纷纷下跌 新元兑美元一度跌至八个月来低点
- 萬科降價風刮到杭州 4個樓盤折扣幅度7.3-8折
- Developers starting to preview projects
- Now, deferred payments with a twist
- Waiver aimed at lessees of state land
- Aust rate cut a relief for homebuyers
- 50MM Lens Review (Canon 50MM 1.4)
- 分析师:房地产股跌势未见底
- 普陀地王重新上市 底價猛增4億多
- 從金融機構的行為模式 發現價格
- 上海樓市頻現零成交
- 萬科旗下8個樓盤限時推出特價房源
- 上海房價05年大跌故事重演?
- 謝金河》台灣電子一軍實力愈來愈強韌 ( 2008/08/29 )
- 高盛:散裝航運景氣將連壞三年 ( 2008/08/29 )
- Fire sale? Don’t hold your breath
- 海峡时报指数(STI)
- 黄源荣:美次貸风暴影响会长达两年 新加坡经济增长将缓慢
-
▼
September
(64)
No comments:
Post a Comment