Yet another Singapore bank withdraws SOR SIBOR Promo rates

YET ANOTHER SINGAPORE BANK WITHDRAWS SOR SIBOR PROMO RATES

In the last issue, 1st week of April we spoke of 2 Singapore banks withdrawing promotional rates. See last article (http://www.propertybuyer.com.sg/articles/compare-singapore-home-loans-/singapore-banks-raise-sibor-margins-on-housing-loan-rates/)

By today 16 April 2010, 1 more Singapore bank has removed their promotional rates. The choices of promotional rates SIBOR or SOR packages are shrinking, at least in April, 2010, until better rates comes about in May or if some banks choose to break ranks with the others.

Shortly after the last article which we posted, the tradionally media published a report saying that banks are lowering rates and competing to acquire home loans. And more are about to follow.

This lead some of our customers to come and ask us, “Why are you saying Sibor Sor margins are rising when the traditional media has just mentioned that the banks are reducing rates to compete?”

We found that article and we read it. It was factually correct and in that article it did mention that banks are revising rates in April 2010. However the headline title said banks are reducing rates to compete. The article was probably written early march and only approved for posting in 1st Week of April, 2010.

So we concluded and explained to our customers that the tradional media is at least 2 to 3 weeks behind the internet media.

For Singapore property buyers wanting to buy completed or Building-under-construction (BUC) properties, the cost is potentially getting higher.

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We are a Research-focused Singapore Mortgage Consultant which helps you compare Singapore Home loans either for new home loans or Singapore Mortgage refinance home loans, we balance risks versus rewards for each home loan to match your risk profile and financing needs.

Buying property is a serious affair, we do NOT advocate a Greed or fear based buying approach, we emphasize that you need to check your finances and property home loan affordability. Check out the mortgage calculators or call us so as to do your sums right.

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Related posts:

1. Singapore banks raise SIBOR Margins on housing loan rates
2. WHY SINGAPORE PROPERTY PRICES GO CRAZY
3. Singapore Home Loan: TO SIBOR or NOT to SIBOR?
4. Singapore Economy: Why is SIBOR falling despite record Inflation (CPI)

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About Property BuyerContact Property Buyer
www.PropertyBuyer.com.sg
We are a Research-focused Singapore Mortgage Consultant which helps you compare Singapore Home loans either for new home loans or Singapore Mortgage refinance home loans, we balance risks versus rewards for each home loan to match your risk profile and financing needs.
Not Simply Cheap, but what Fits. We Research, You Save!
TEL:   +65 - 6100-0608
SMS:  +65 - 9782-8606
Email: Loans@propertyBUYER.com.sg
Business Registration: 200618162C
All articles are the intellectual property of www.PropertyBuyer.com.sg. You are welcome to reproduce our articles provided that you include an active and working link back to http://www.PropertyBuyer.com.sg
Career at Property Buyer