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Hi,

The current fixed rates package offerings from the local banks are for 2 or 3 year lock in, between 2.65% to 2.75% . It does look like SIBOR is more sensitive to the US Fed rate hikes, perhaps you may want to refinance to SORA linked packages, which are still floating rates but relatively less sensitive to US FED rate hikes for the remaining of this year.

Just my 2 cents. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Can I get my home finance guru to contact you and see how any change can benefit you?

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Hi,

1) Current 3M SORA rate according to MAS is 0.4861%. Currently, the most bank is adding 0.75~1.5% to the SORA rate.
2) SIBOR is going to be replaced by SORA once the lock-in period ceased.
3) The current 2yrs fixed rate is 2.68~2.98%.
4) If you still have a long way to complete paying off your mortgage, then switching over to fixed-rate could be a safer route under the current situation.
5) If you are only left with less than 5 yrs to complete your mortgage then you might want to consider taking a risk by staying in the floating rate since some of the banks offers 5 yrs plan for a floating rate.
6) There is no doubt that the interest rate will increase due to the high inflation rate in the US and the US Treasury had no other way to deal with it other than to increase their interest rate.
7) We only experienced 3 rounds of increment in 2022, whereas the US Treasury did forecast they might have 9 rounds of increment in 2022.
8) You will have to act fast before another round of interest increment announcement if you still have a long way to pay off.
9) Just for reference, the historical height of the SIBOR rate was 9.84% in 1998. This could happen to the SORA rate if a similar situation in 1998 happened again in Singapore.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi,

You definitely need to refinance from SIBOR rates! However, I do recommend you to choose SORA rates over fixed rates for more savings.

If you're keen to know more, you can drop me a WhatsApp message. We can discuss further from there.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

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