12 Jul '11, 1pm

IM$avvy Headlines: Home sweet loan #Singapore #loans #nterests

AT LEAST two Singapore banks have been dangling some of the lowest ever home loan rates, currently pegged at about 0.2 per cent, on selected properties. Analysts say the moves by DBS Bank and United Overseas Bank (UOB) may reflect intensifying competition to maintain loan volumes in an uncertain market. These loans may be more attractive to short-term property investors. The two banks confirmed to The Straits Times yesterday they have offered mortgage rates pegged at two commonly used benchmark interest rates - and not a whisker more - in the initial period. These are the Singapore interbank lending rate (Sibor) and swap offer rate (SOR). The three-month Singdollar Sibor has been at a record low of 0.438 per cent since January; the three-month SOR has moved between 0.3 and 0.189 per cent since April. It is now 0.21 per cent. The SOR tends to be more sensitive to exchange r...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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