Serious Homeowners in shock after DBS, OCBC & UOB hike home loan fixed interest rate

[Boliao]

It's not dropping back.

Sigh, those people just don't want to listen. Already said the current crisis will last at least 2-3 years. Rates are not going back at least for the next 2 years.

 

[hbk75]

tong the loan rate 1 year and it will drop back

U no hear fed minutes. No more zero percent rates for many years liao.

 

[hbk75]

Good news, looking forward to 5% interest on my fixed deposits, bonds, and CPF OA.

Actually fd account progressively put is better so u dun lose out in time. Like 20k then up again place 20k again.

 

[oliverlee]

Why should anyone be shocked? Ppl were waving red flags everywhere, cautioning those who bothered to listen about the dangers of vaccines and rising interest rates, among many ills once they had opened the pandora’s box. But of course sinkies were daft and too thick in their heads. They deserve their farking comeuppance now

 

[JohnTan]

errr... people who are really rich, do not seek mortgage, they pay all in one lump sum.

That's not true.

Vast majority of the rich people put down a deposit for property, pay installment for a few years, then flip for profit. This is called 'leverage', where you use $1 to legally own $10 worth of asset. You usually can only do leverage for property.

Only a dumbass would pay $100 to own $100 of asset, and then flip it later.

 

[tobelightlight]

That's not true.

Vast majority of the rich people put down a deposit for property, pay installment for a few years, then flip for profit. This is called 'leverage', where you use $1 to legally own $10 worth of asset. You usually can only do leverage for property.

Only a dumbass would pay $100 to own $100 of asset, and then flip it later.

They dun buy to flip. Flipping are for those who want to act rich.

 

[JohnTan]

They dun buy to flip. Flipping are for those who want to act rich.

Other than buying and keeping a home for sentimental value, most rich people buy and flip.

Low caste sinkies are also catching on to it. That's why they try to flip their hawker recipes to some idiots for $500k when they want to retire, or sell their BTOs for double the price after the MOP period.

 

[rodent2005]

If the inflation rate is much higher than that, you're still a sucker.

I don't owe any debts, so it's fine even if interest rates on borrowings increase to 10%.

Inflation is higher than interest rates now, but it's better than nothing and if you lock in 10 years interest, one day inflation will come down.

Besides, if you put money in stockmarket now, the S&P and Nasdaq is down about 20% and 30% respectively YTD.

 

[Boliao]

https://www.channelnewsasia.com/singapore/fixed-home-loan-interest-rates-raise-dbs-ocbc-3072736

Rates at 4.5% liow.. much earlier than what I predicted last year. Back then, Fed rates increase plan was more moderated and forecasted at 3.5% versus current accelerated and higher rates. Likelihood is that interest rates may hit 5.3-5.5% before stabilizing.

 

[bobby]

If you can afford a multi $m home...you can jolly well afford a 0.55% increase in interest rate.

 

[worcer]

3.3% is cheap!

Wait till u see 5%!!!

 

[Scrooball (clone)]

But these ppl also funny right? The contract got say it’s a fixed perpetual rate meh? Lol it’s like questioning why the economy rice is selling so expensive now.

 

[laksaboy]

3.3% is cheap!

Wait till u see 5%!!!

Wait till you see property developers saying 'fuck it' and abandoning half-finished construction projects, since it's too expensive to make bank loans.

Or worse, cut corners, use less/inferior concrete etc to save costs and finish the construction anyway.

 

[Scrooball (clone)]

That should screw the flippers

 

[tobelightlight]

Other than buying and keeping a home for sentimental value, most rich people buy and flip.

These are not really rich people then. sorry for the hard truth.

 

[A Singaporean]

Interest rate still too low. Should be at least 6%. Poor Sinkies can fuck off. We have high paid foreigners to displace u. Majulah.

 

[gingerlyn]

Wait till you see property developers saying 'fuck it' and abandoning half-finished construction projects, since it's too expensive to make bank loans.

Or worse, cut corners, use less/inferior concrete etc to save costs and finish the construction anyway.

Good. These half built towers can be used by pinoy and bangla as recreational hubs

 

[laksaboy]

Good. These half built towers can be used by pinoy and bangla as recreational hubs

Stray dogs, stray cats, birds, monkeys and squirrels are welcome too.

 

[Loofydralb]

Jump! Jump you Sinkies dumbfucks who bought condo and now cannot pay!

Jump! It will end your misery and avoid facing the shame of losing it.

Jump!

 

[laksaboy]

Jump! Jump you Sinkies dumbfucks who bought condo and now cannot pay!

Jump! It will end your misery and avoid facing the shame of losing it.

Jump!

Don't forget to wear a GoPro camera.