Hello Jeremiah!
Thanks for that question.
You have more time to consider this as the banks are not too agile when it comes to adjusting interest rates.
But from what I see on DBS's website,"
"1-year lock-in period. This home loan rate is valid for applications with a minimum loan amount of S$300,000. Fixed Deposits Home Rate (FHR8) refers to the prevailing 8 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within S$1,000 to S$9,999 or such other sum as we may specify. The current FHR8 is 0.950% p.a."
The DBS Home loan is pegged to the Fixed Deposits Home Rate (FHR8) and not the Singapore Interbank Offered Rate (SIBOR) interest which has a close relationship with the US Federal Reserve interest rates.
As such it remains to be seen if the DBS Home loan rate will be adjusted. Do continue to monitor the DBS Home Loan rate as things develop and as always do your homework!
You can also check out this article:
https://blog.seedly.sg/compilation-mortgage-hou...
to learn more about Housing/Mortgage Loans in Singapore.
All the best!
Hello Jeremiah!
Thanks for that question.
You have more time to consider this as the banks are not too agile when it comes to adjusting interest rates.
But from what I see on DBS's website,"
"1-year lock-in period. This home loan rate is valid for applications with a minimum loan amount of S$300,000. Fixed Deposits Home Rate (FHR8) refers to the prevailing 8 months Singapore dollar fixed deposit interest rate of DBS Bank for amounts within S$1,000 to S$9,999 or such other sum as we may specify. The current FHR8 is 0.950% p.a."
The DBS Home loan is pegged to the Fixed Deposits Home Rate (FHR8) and not the Singapore Interbank Offered Rate (SIBOR) interest which has a close relationship with the US Federal Reserve interest rates.
As such it remains to be seen if the DBS Home loan rate will be adjusted. Do continue to monitor the DBS Home Loan rate as things develop and as always do your homework!
You can also check out this article:
https://blog.seedly.sg/compilation-mortgage-hou...
to learn more about Housing/Mortgage Loans in Singapore.
All the best!