Mortgage debt seems to be the biggest debt for the Americans. While talking about mortgage debt forgiveness, you need to know that every lender will not agree to forgive your debt. However, there are few lenders who will agree to forgive mortgage-debt. The mortgage lender will forgive only a small portion of your debt. With proper budgeting and by keeping a track on your spending, you will be able to...
Finance
Whether you are a first-time home-buyer or are looking into investing in a property, securing the right housing loan package to suit your financial need is of utmost importance. In Singapore, the major banks offer highly competitive housing loan interest rates and packages. Understanding the differences between these packages and their impact on your financial commitment will help you decide on the most...
Interest rates in Singapore may rise - from their lowest levels in 40 years - as early as March next year, according to analysts. They say home loan refinancing is surging, but bank profitability and the rising cost of funds offshore may force the banks' hand. Banks could be forced to raise their home loan interest rates as early as six months from now. Low rates have hurt their profitability and they...
Singapore's benchmark lending rates are being pushed down to record lows by global funds looking for a place to park. Analysts said the so-called hot money, or unproductive funds, have been pouring into the country since the US Federal Reserve said it would keep its interest rates near zero for the next two years. They said much of speculative money is destined for Singapore property. The Singapore...
Singapore’s swap offer rate (SOR) — a rate signifying the synthetic cost of borrowing Singapore dollars, by borrowing US dollars at similar maturity and exchanging them for Singapore dollars — turned negative last week as funds seeking safety flooded the local market. This resulted in several mortgage brokers receiving orders from DBS Group and Maybank to stop offering home loans pegged to SORs,...
Total bank lending in Singapore amounted to S$374.3 billion last month, up 3 per cent from the previous month, according to data released yesterday by the Monetary Authority of Singapore (MAS). On a year-on-year basis, total bank lending surged 26 per cent on the back of robust economic growth. Housing loans rose 1.3 per cent to S$121.3 billion last month from S$119.7 billion in May. The MAS also, for...
In response to feedback from the business community, the Monetary Authority of Singapore has decided to do away with a regulatory loan-to-value (LTV) limit for non-individuals seeking to borrow money secured on a residential property. This means businesses - starting from yesterday - will not be subjected to a 50 per cent limit for a loan obtained from the equity value of their existing property...
Home loan rates are back in the news. In the latest move to maintain loan volumes in an uncertain market, at least two Singapore banks have reportedly been dangling some of the lowest rates, currently pegged at about 0.2 per cent to market benchmarks, on selected properties. The offered mortgage rates are pegged against two commonly used benchmark interest rates. These are the Singapore interbank lending...
Interest rates are at an all-time low, but what will happen if rates begin to rise, asks Colin Tan These days, when I am asked in casual conversations about the local housing market, I am at a loss for words. Do I describe the market assuming that housing interest rates remain as they are, which has been abnormally low for about two and a half years now, or do I launch straight into the explanation of...
Most indicators are pointing to a gradual moderation in the property market here, but latest figures showing a 1.4 per cent month-on-month growth in home loans have some analysts wondering if the outlook is quite so clear cut. Latest figures from the Monetary Authority of Singapore showed that building and construction loan growth in May fell 13 per cent month-on-month to S$59 billion. New private home...