SIBOR rates and home loan repricing

[The_Bear]

sibor beiring 

[RadX]

sibor beiring 

 

 

lol...you cunning linguist...BOeaR

[Porker]

This place is the best. Got people know Peter Schiff and the likes and got people better than chief economist of IMF and Goldman also. BTW I don't even know who the fark Peter Schiff is

[RadX]

This place is the best. Got people know Peter Schiff and the likes and got people better than chief economist of IMF and Goldman also. BTW I don't even know who the fark Peter Schiff is

[Hubwee]

lol....we are just minions....better just kip one corner, delete MCF acct and suck thumb

 

Yes , seriously , I really cannot understand all those views here . knn , interest go up go up lor , say so much for fark . As if people kena forced sale or whatever , he will have to bail those people out using his own money .   

 

I think hor , those who behaves this way , are those with serious inferior complex so have to come internet to act big fark ?? Frankly , I pity his friends and family , especially if he has children ... . everyday kena fark for nothing cos everyone else is too stupid to understand half of what he says ...  Too high level liao

[RadX]

Yes , seriously , I really cannot understand all those views here . knn , interest go up go up lor , say so much for fark . As if people kena forced sale or whatever , he will have to bail those people out using his own money .   

 

I think hor , those who behaves this way , are those with serious inferior complex so have to come internet to act big fark ?? Frankly , I pity his friends and family , especially if he has children ... . everyday kena fark for nothing cos everyone else is too stupid to understand half of what he says ...  Too high level liao

 

 

ive mentioned before. Perhaps the individual is ignored(not difficult to see why) in real life, so have to gain attention somewhere....and thus this becomes a convenient platform.  

 

Have advised others to just ignore the ranting insanity of the person and life will go on as per normal.  Dun take it too hard as it is not their fault that this fellow comes and irritates the hell out of others EVEN WHEN IGNORED.

[Mason016]

 

 

 

 

[RadX]

 

 

 

 

You too ah

[Jamesc]

This place is the best. Got people know Peter Schiff and the likes and got people better than chief economist of IMF and Goldman also. BTW I don't even know who the fark Peter Schiff is

[The_Bear]

Dude I have warned explained , debated. What else u think I should do

Try. Shutting. Up.

[Ake109]

i think you only know peter STIFF  

 

How about Peter North?

 

 

I am sure you know that SG debts are backed by SG sovereign wealth funds. Try to use Google to find if there is such a thing as US sovereign wealth fund.

 

US don't need sovereign wealth fund to issue debt. They figured out long ago that it was more cost efficient to underwrite debt with aircraft carriers.

[Showster]

Thanks for the valid reminder.

 

But that strategy does have its limits (see link below). The current situation is a catch 22 for US. Let's hope those with good suggestions manage to implement it ultimately.

 

http://www.reuters.com/article/2015/12/02/us-usa-congress-standoff-insight-idUSKBN0TL0C420151202#608oOuRXjZKDgzAF.97

 

 

 

US don't need sovereign wealth fund to issue debt. They figured out long ago that it was more cost efficient to underwrite debt with aircraft carriers.

 

[Myxilplix]

I don't have a clue.

 

But I know who Peter North is.

[Carwoman]

Every person is entitled to his or her own view, I share my views because of my own perspective of how the global financial situation is worsening so quickly, and at the same time I am also learning from those who have alternative perspectives.

yes, this is a place to share and learn. One cannot presume to know it all.

[Carwoman]

US rate increment is a confirm thing, key issue is how fast and how much.

 

cheap money will be gone soon. even Fed decided not to raise in december definitely will happened in first half 2016.

 

My concern is what will happen to oil price?

If you think they will go up , then buy some oil stocks when they are low.

 

The caveat as always is "if"

[Matrix0405]

Sibor become porn thread!

 

[Pinobii]

Singapore interest rates rise ahead of Fed's decision

 

http://www.straitstimes.com/business/economy/local-interest-rates-rise-ahead-of-feds-decision?xtor=CS3-20

 

 

SINGAPORE - Local interest rates are inching up and investors are on edge as the countdown to Thursday's decision by the United States Federal Reserve begins in earnest.

 

It is widely expected that the Fed will raise interest rates from near-zero levels - the first such rise in nine years - and the effects are already rippling through Singapore's financial and currency markets.

 

 

The greenback has strengthened against the Singdollar. More importantly, for mortgage holders and business owners, the cost of lending is going up.

 

The three-month swap offer rate (SOR), a benchmark for commercial loans and some home loans, spiked to a new three-month high of 1.59168 per cent yesterday from 1.50597 per cent last Friday and 1.39520 per cent on Thursday. The previous high was at 1.56409 per cent on Sept 8.

 

It is now almost four times higher than at this time last year.

 

It is a similar story with the three-month Singapore interbank offered rate (Sibor). The Sibor, which is used extensively to price home loans, hit a two-month high of 1.12865 per cent yesterday and is now almost three times higher than its level 12 months ago.

 

This means the monthly repayments on a $500,000 loan with a 25-year period pegged to Sibor will be $168 more than a year ago, while one pegged to the three-month SOR will be $262 more.

 

 

 

The US rate hike has been flagged for several months, during which a rising number of home owners have switched to fixed-rate mortgages, and a new product pegged to fixed deposit rates was launched.

 

SOR loans became popular around 2010-2011, when SOR started to dip below Sibor.

 

Most home loans extended by DBS Bank, Singapore's largest provider of mortgages, are pegged to Sibor, with fewer than 500 based on SOR, said Mr Tok Geok Peng, its executive director of secured lending.

 

Personal finance portal MoneySmart.sg estimates that 45 per cent of mortgages are pegged to fixed deposit rates, 50 per cent to Sibor and the remainder to SOR, based on loan take-ups in the past two months.

 

ABN Amro chief economist Han de Jong noted that this will "undoubtedly be one of the best flagged rate increases ever, so it is hard to see how people can be caught off guard, but you never know".

 

DBS Bank economist Eugene Leow said: "We expect a 25-basis point hike but much of this has already been priced into the market.

 

"We suspect that Sibor and SOR rates will likely rise by a smaller magnitude than US rates."

 

DBS sees Sibor at 1.4 per cent by the first quarter next year.

 

The rate talk has also hit stocks and currencies as investors wait on the sidelines for a decision. The US dollar rose from 1.4095 to the Singdollar last Friday to 1.4129 yesterday while local share investors, who seem determined to keep their powder dry until later in the week, left the benchmark Straits Times Index down 0.69 per cent yesterday.

[Yewheng]

This place is the best. Got people know Peter Schiff and the likes and got people better than chief economist of IMF and Goldman also. BTW I don't even know who the fark Peter Schiff is