Bank Fixed 2018

News Updates -

US Fed hike will hit Singapore home loan customers

3 Months Singapore Interbank Offered Rate (Sibor) which are pegged the benchmark rate to most residential property loans , are expected to double by the end of 2017. The increase is in line with the expected rate hikes by the United States Federal Reserve this year.

Not only will consumers see their mortgages rise, companies will also find it harder to service their debts, in the midst of a slower economy with a deteriorating job market.

3 Month Sibor hovered at 0.942 per cent, compared with 0.940 per cent a week earlier. Economists expect the benchmark to rise to between 1.45 and 1.85 per cent by the end of this year.

3 Month Swap offer rate (Sor), a benchmark for commercial loans, was at 0.907 per cent on Wednesday, up from 0.890 per cent a week ago.

CIMB economist Song Seng Wun added that uncertainty towards the US economy, and doubts in the resilience of US consumer spending also contributed to the easing.

Going forward, the increase in Sibor is likely to cause a strain to borrowers. “The cost side for consumers is going up, as they feel the impact of the rise in interest rates for their mortgages, especially now with the rise in resident jobless rate and weak consumer sentiment on economic growth,”

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Bank	Package	Year 1 Mthly Payment	Year 2 Mthly Payment	Year 3 Mthly Payment	Total Interest ▼	Select
	BOC 3 Years Fixed - Min 500K	S$2,500 Int Save: S$74 Fixed (1.85%)	S$2,513 Int Save: S$48 Fixed (1.90%)	S$2,527 Int Save: S$24 Fixed (1.95%)	3 Yrs: S$32,588 You Save: S$1,761
	2 Years Fixed Rate - Residential	S$2,537 Int Save: S$10 Fixed (1.98%)	S$2,537 Int Save: S$10 Fixed (1.98%)	S$2,537 Int Save: S$9 FDR + 1.48% (1.98%)	3 Yrs: S$34,001 You Save: S$348
	UOB 2Y FIXED Rate Lock-In 2 Years (Mortgage Rate TA) - Limited Tranche	S$2,537 Int Save: S$10 Fixed (1.98%)	S$2,537 Int Save: S$10 Fixed (1.98%)	S$2,537 Int Save: S$9 Float (1.98%)	3 Yrs: S$34,001 You Save: S$348
	BOC 2 Year Fixed Rate	S$2,500 Int Save: S$74 Fixed (1.85%)	S$2,500 Int Save: S$72 Fixed (1.85%)	S$2,632 Int Save: S$-155 Sibor + 0.70% (2.34%)	3 Yrs: S$34,449 You Save: S$-100
	2 Year Fixed Rate Loan $500,000 < $2,000,000	S$2,514 Int Save: S$49 Fixed (1.90%)	S$2,514 Int Save: S$48 Fixed (1.90%)	S$2,640 Int Save: S$-167 Sibor + 0.85% (2.36%)	3 Yrs: S$35,177 You Save: S$-828
	HSBC 2 Years Fixed Rate Package for Completed Property - Min $200k	S$2,529 Int Save: S$25 Fixed (1.95%)	S$2,529 Int Save: S$24 Fixed (1.95%)	S$2,614 Int Save: S$-121 Sibor + 0.75% (2.26%)	3 Yrs: S$35,213 You Save: S$-864
	HSBC 3 Years Fixed Rate Package for Completed Property - Min $200k	S$2,558 Int Save: S$-25 Fixed (2.05%)	S$2,558 Int Save: S$-24 Fixed (2.05%)	S$2,558 Int Save: S$-24 Fixed (2.05%)	3 Yrs: S$35,218 You Save: S$-869
	UOB 2Y FIXED Rate Lock-In 2 Years (Mortgage Rate TA)	S$2,567 Int Save: S$-40 Fixed (2.08%)	S$2,567 Int Save: S$-39 Fixed (2.08%)	S$2,567 Int Save: S$-38 Float (2.08%)	3 Yrs: S$35,740 You Save: S$-1,391
	2 Years Lock-In Fixed Rate - Completed only - Year 3 onwards boardrate	S$2,529 Int Save: S$25 Fixed (1.95%)	S$2,529 Int Save: S$24 Fixed (1.95%)	S$2,652 Int Save: S$-185 Float (2.40%)	3 Yrs: S$35,980 You Save: S$-1,631
	2 Year Fixed Rate Loan $100,000 < $500,000	S$2,543 Int Save: S$0 Fixed (2.00%)	S$2,543 Int Save: S$0 Fixed (2.00%)	S$2,642 Int Save: S$-168 Sibor + 0.85% (2.36%)	3 Yrs: S$36,361 You Save: S$-2,012
	Fixed Rates 2 Years Lock-In for Completed Residential Properties -	S$2,543 Int Save: S$0 Fixed (2.00%)	S$2,543 Int Save: S$0 Fixed (2.00%)	S$2,681 Int Save: S$-232 Float (2.50%)	3 Yrs: S$37,129 You Save: S$-2,780
	3 Years Fixed Rate - Residential Loan	S$2,596 Int Save: S$-89 Fixed (2.18%)	S$2,596 Int Save: S$-87 Fixed (2.18%)	S$2,596 Int Save: S$-85 Fixed (2.18%)	3 Yrs: S$37,480 You Save: S$-3,132
	UOB 3Y FIXED Rate Lock-In 3 Years	S$2,596 Int Save: S$-89 Fixed (2.18%)	S$2,596 Int Save: S$-87 Fixed (2.18%)	S$2,596 Int Save: S$-85 Fixed (2.18%)	3 Yrs: S$37,480 You Save: S$-3,132

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