Sibor surge driving mortgage rates up

Spinning_Top – – Sibor surge driving mortgage rates up. HOME buyers hoping for a reprieve in rising mortgage rates better not hold their breath as interest rates continue to rise and are now back at levels last seen 12 years ago.

Can rising mortgage rates be GOOD news? 2017 Mortgage Rate Outlook: The Trump Effect With most changes taking effect on Jan. 1 this year, the upcoming tax filing for the 2017 calendar year. "it’s a second mortgage, almost, for a lot of these folks," Vichinsky says. Home values and.Although this is a good sign for the overall economy, rising interest rates can yield questions for homebuyers about affordability and how to negotiate the best .

SOR and SIBOR interest rates surged – Wilfred Ling, The IFA. – The key interest rate benchmarks namely SOR (Swap Offer Rate) and SIBOR (Singapore Interbank Offered Rate) are surging. For example, the 3-months SOR used to be below 0.25% prior to 1 October 2014 but now the latest figure as at 5 January 2015 is 0.930%.

Following the latest round of hikes, the interest rate on mortgages is now some 50 per cent higher than a year ago as the mortgage benchmark, the 3-month Sibor or Singapore interbank offered rate, continues on its northwards trek. The 3-month Sibor is now at almost 2 per cent, up from 1.4 per cent 12 months ago.