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SIBOR

S$ to appreciate

April 14, 2012 by yenkai Leave a Comment

Singapore-1-Dollar-1967

MAS has just announced it will “increase the slope of its policy band slightly for a modest and gradual appreciation of the Singapore dollar”. Two days before the announcement, the USD/SGD rate already started to decline from the recent high of 1.26. This bodes well for home loan rates, where SOR has already fallen below Sibor for 3 weeks. Given the Fed’s apparent commitment to keep rates low through 2014, which is actually just a forecast and not set in stone, it appears that interest rates will probably remain subdued for a while at least. Meanwhile, despite repeated attempts to suppress oil price, it managed to stay above US$102. This could be a sign of QE3?

Tagged: SIBOR, SOR

Libor rigged

March 6, 2012 by yenkai Leave a Comment

The London Interbank Offered Rate (Libor) came into the limelight recently. As mentioned in the news articles, the US Dollar Libor affects the cost of borrowing $10 trillion worth of loan and another $350 trillion in derivatives.

Tagged: SIBOR, SOR

SOR soars above 0.5%

December 9, 2011 by yenkai Leave a Comment

SOR rises above 0.5% for the first time since June 2010, as the USD/SGD moves close to 1.3 again and LIBOR hit 0.54% on its continued steep incline, while SIBOR remains muted at 0.38%. The massive flight-to-safety from the Eurozone’s trouble pushes the US dollar higher as investors piled into Treasuries. This, the result of ECB’s stubborn unwillingness to print money, though, as widely expected, they did further cut rates by another quarter points to 1%.

Tagged: inflation, money, SIBOR, SOR

Rate cuts on the horizon

November 13, 2011 by yenkai Leave a Comment

image

The 3-Month SIBOR has dropped a notch from 0.44% to 0.31%, bringing it lower than SOR once again. SIBOR-pegged loans are now more attractive than SOR-pegged ones. This is also partly due to the absence of SOR-pegged loans currently being offered. Banks probably withdrew them after being spooked by the negative SOR back in August.

Tagged: SIBOR, SOR

SOR surpassed SIBOR for first time in more than 2 years

September 24, 2011 by yenkai Leave a Comment

Surpass

The last time SOR and SIBOR crossed path was way back in May 2009. That was when SOR fell below SIBOR and remained so for more than 2 years. The recent sharp increase in USD/SGD exchange rates (from 1.2 to 1.3 in 3 weeks) took SOR from -0.1 to 0.35 over the same period. It looks like MAS has kept the USD/SGD rate bounded at 1.3 for now, so SOR will likely stabilise, although it is to be noted that LIBOR has been on an increasing trend.

Tagged: SIBOR, SOR

Sibor-pegged loan doing good too

September 8, 2011 by yenkai Leave a Comment

Sibor_loan

This just in, my other SIBOR pegged home loan has dropped by about 0.09%, corresponding to the fall in the 3-month SIBOR. This again results in some savings in my monthly instalment, not a lot , but any amount is welcome.

Tagged: rates, SIBOR

World’s End Close

August 6, 2011 by yenkai Leave a Comment

DSC_0088 World’s End Close, Edinburgh

The events in the past week may be telling us that we could be one step closer to the end of the world. Ok, that’s a bit of an exaggeration, but these were significant events. US just lost its AAA rating for the first time. That means a loss of confidence in the US in their ability to repay their debt, and more so, a loss of confidence in the governance of the country. This has major repercussions on the financial system, especially the currency.

Tagged: money, SIBOR, SOR

SOR landed in all-time-low territory again

November 6, 2010 by yenkai Leave a Comment

With the US bent on devaluating the USD and MAS allowing the SGD to appreciate, SOR was driven into its all-time-low territory again, coming in at 0.247% on 3 Nov 2010. Moreover, the Feds initiated a fresh round of measures to spur the US economy, keeping rates at 0-0.25% for an “extended period” and launching a new massive US$600 billion money printing exercise.

Tagged: inflation, SIBOR, SOR

Cheaper home loans makes the news

August 13, 2010 by yenkai Leave a Comment

News about home loan rates appear in the newspaper very sparingly, and this just happened last Saturday, showing up in the Straits Times with the headline “Cheaper home loans in store”. In a gist, the article says that “KEY interest rates that determine mortgage levels have fallen steeply, promising cheaper home loans but even leaner times for those with bank deposits. “¦ The falling rates have followed the trend of the rates set by the United States Federal Reserve, which continue to be at historic lows. They have also come as the Singdollar has been allowed to strengthen since April.”

Tagged: rates, SIBOR, SOR

SOR/SIBOR pegged loan exit strategy

July 13, 2010 by yenkai Leave a Comment

I have mentioned in my previous post that those of us who have taken up a SOR or SIBOR pegged loan may find ourselves at risk of having to pay a 1.5% penalty when doing a full redemption not on the rate repricing date.

Tagged: SIBOR, SOR
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About Yen Kai

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Yen Kai the spend-thrifter loves to eat, drink, travel and spend save money. He's always pondering on ideas to solve the little problems of everyday living (what to eat, where to go, what to buy, how to save money etc.) and shares them here on this blog.

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