Why SIBOR went up?
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Yes, it will go up further. Better not to buy property.
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ngl2010:
Why SIBOR suddenly went up drastically? Do you think it will go up further?
falling oil prices -
SIBOR up 13.5% but SOR is 233.5%…therefore…those in SOR may have to think of refinancing…
Monitor Federal Reserve’s rate…likely to increase in 2015. -
Read the Sunday Times today, page 27 n 28 .
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Jennifer:
Read the Sunday Times today, page 27 n 28 .
No papers at home :roll: -
I called CitiBank today and learnt that there are 1-month, 3-months, 6-months and 12-months SIBOR rates.
Our effective rate has gone up to 1.5%.
All the other x- months SIBOR rates + the minimum interest rate is higher than 1.5% now.
There is no savings if we convert to x-monthly SIBOR now unless the monthly SIBOR exceeds what we commit now for x-months SIBOR.
Actually I am very confused by what the staff said.
Some more the minimum interest rate is now up to 0.85 from 0.80 -
Jennifer:
Jennifer, have you asked other banks for their housing loan interest rate?I called CitiBank today and learnt that there are 1-month, 3-months, 6-months and 12-months SIBOR rates.
Our effective rate has gone up to 1.5%.
All the other x- months SIBOR rates + the minimum interest rate is higher than 1.5% now.
There is no savings if we convert to x-monthly SIBOR now unless the monthly SIBOR exceeds what we commit now for x-months SIBOR.
Actually I am very confused by what the staff said.
Some more the minimum interest rate is now up to 0.85 from 0.80
The recent promotion by POSB for 1.88% interest rate for fixed deposit and also some fixed deposit promotion by other banks actually made me sweat. That means the cost for borrowers will go up too. But I am not an expert so I maybe wrong. -
ngl2010:
Jennifer, have you asked other banks for their housing loan interest rate?Jennifer:
I called CitiBank today and learnt that there are 1-month, 3-months, 6-months and 12-months SIBOR rates.
Our effective rate has gone up to 1.5%.
All the other x- months SIBOR rates + the minimum interest rate is higher than 1.5% now.
There is no savings if we convert to x-monthly SIBOR now unless the monthly SIBOR exceeds what we commit now for x-months SIBOR.
Actually I am very confused by what the staff said.
Some more the minimum interest rate is now up to 0.85 from 0.80
The recent promotion by POSB for 1.88% interest rate for fixed deposit and also some fixed deposit promotion by other banks actually made me sweat. That means the cost for borrowers will go up too. But I am not an expert so I maybe wrong.
We just passed the 3 years period. So yet to check with other banks. -
Received interest revision advice from bank yesterday. Up from 1.128% to 1.44%. Up by 0.312%.
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