SORA Rate massive jump today

[Spirax]

Think many will start default 4% loan at 3mth later

 

[mikezuper]

Thanks. Yes, many don’t bother with yield. They only care about capital gain. Of utmost importance is the ability to pay the monthly mortgage. These are just following the herd to snap up properties. “Buy, buy, buy” is their mantra. And every day, they only talk about current and future property capital gain, theirs and everybody else’s. Like horse-racing, everybody is doing nothing productive other than stare at the horses run and getting a kick out of it.

As for the $2 million loan example, if rental is at least $1,500 more than expected, $3K more in monthly payment means fork out $1,500 more. I think that’s how people assume things will go and are hence not worried.

Wah horse racing replaced by house racing ah. The always go up chant only good for those with more than 1 property. And some of These folks never do proper calc at the end of the day on their effective gain. What we see on property transaction report of bought at $1.5mil and sold at $1.7mil later after 5 years doesnt take into account all these cost yet. Huat ah!

 

[hardwaregone]

Good news. Today dropped to 3.33%.

MAS managed to convinced Powell to calm down?

 

[I want to be Your Canary]

It is time now fellow sinkies faster sell 1 buy 2!!!

 

[dnsfpl]

heng we sign up for fixed rate 1.5% for 5 years. Song bo!

1st quarter this year ah, jin kiang sia

i opt for 2 only, hope rate will reduce in 2024

if not i gonna do full redemption liao

 

[hardwaregone]

1st quarter this year ah, jin kiang sia

i opt for 2 only, hope rate will reduce in 2024

if not i gonna do full redemption liao

Powell got say 2024 and later is maintained at around 2.9 pct iirc.
If goes by 3m SORA if you renew in around first half of 2024, should be around 4 pct. Ok ma, lose hdb abit.

 

[dnsfpl]

i will pay up if the rate is above 2.5%

 

[iceblendedchoc]

1st quarter this year ah, jin kiang sia

i opt for 2 only, hope rate will reduce in 2024

if not i gonna do full redemption liao

November 2021

 

[MistaP]

So glad I signed up for 5 year fixed rate last year @ 1.4%!

 

[hardwaregone]

Next fed meeting on 2-3 November and on 14-15 December.
Expected to increase another 0.4 to 0.75 percent in each meeting.

Current FED rate is 3.25 pct, this was announced on September 21st.
Take note all the increases to 4.6% were announced at the same meeting.
One of the main reasons was despite gasoline prices being reduced by almost 10%, the inflation only reduced modestly.

There's a key event that happened after the meeting, Saudi play ******* reduced their output.
Meaning it may push up energy prices and push up inflation in the bitter winter, so no surprise if Powell makes adjustments.



Latest daily and 3 mths SORA rate.
3 months + bank markup, should be higher than HDB loan already.