Last Wednesday Federal Reserve announced a quarter-point rate hike as the industry has expected. This is the second approved raise by the central bank this year. There will still be a third round most likely in September. Why rate hike is not a big concern But who cares about the raise of a quarter point? Banks don’t need any excuse to raise interest rate. Mortgage … [Read more...]
Buying My 1st Private Property 1-Day Workshop
Learn Everything AboutHow to Buy Your 1st Private PropertyA workshop by Property Club SingaporeWhen you are about to buy the most expensive item in your life,you'd better get it right.Answer 1st time buyer questions: 'when can I buy', 'what to buy' and 'how to buy' Countless smart tips to buy 1st property for own stay or for investmentSave you tons of money from … [Read more...]
5 reasons why you fail TDSR and how to save yourself
A blog reader shared with me that he had put down a deposit to buy a property for investment. When he applied for a housing loan, to his big surprise, the bank told him that he couldn’t pass the TDSR (Total Debt Servicing Ratio) test. “I thought I was financially sound. How could I possibly fail the stress test?” Another reader was checking with the bank to refinance his … [Read more...]
When the housing market collapses
Remember the infamous Fannie Mae and Freddie Mac that kick-started the last financial crisis? Last month hedge fund Bayview Financial bundled their junk securities into $118 million new bonds. Fitch Rating immediately stamped it with A- for investment grade. Didn't they do the same for subprime mortgage bonds that were once top-rated AAA debts before the US housing … [Read more...]
Will they ever tell the truth?
Last week Mitsubishi Motors admitted to manipulating fuel economy test data, using methods that were non-compliant with Japanese standards. They were found to be cheating for the last 25 years. Concerns among investors on potential compensation costs and fines immediately made the dishonored Japanese automaker lose half of its market value. When will they come clean? This … [Read more...]