SOR hits yet another low, at 0.59%. And this happens on my SOR-pegged home loan re-pricing date, bringing the interest rate down to 1.35% for the next 3 months. This is simply amazing. Previously i had been very tempted to switch over to the home loan package pegged to the 1-month SIBOR rate which, at 0.44%, plus the 0.85% margin the bank charges (for 1 year lock-in), stands at 1.29% overall. Compared to that, the interest rate i am getting, at 1.35% fixed for 3 months (3-month SOR) isn’t too bad at all. This translates to a whopping $210 savings in interest per month, wow..
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