Interesting to hear the Chinese buying things up in Singapore hand over fist! Eventually, there will be resentment though, but not if you are a property owner!

Fortunately or unfortunately, most Asia centric finance bloggers are investment focused. Those of us who like personal finance stories almost always end up reading US/Canada blogs. I probably know your financial systems better than our own after so much reading! It was not difficult to find your blog since so many link to you.

And yup, the mainland Chinese are still pouring into SG real estate. They have overtaken the indonesians. We know of a group of them who flies in regularly to shop for high end property with CASH. Like SGD 2 million each time. Kind of ridiculous when you stop to think about it.

You’re definitely right about needing to be a bond trader. I recently refinanced with a 30y @3.875% for no closing costs (1/8 higher rate than best available).

You’re suggestion about a good mortgage broker is a good one. Also check with your existing bank, as many times they can offer short cuts (such as no hassle of going through the income verification again, no re-appraisal, etc.).

Also don’t hesitate to work several deals at once, as I was able to pass on 4.5%, and 4.25% as rates dropped. With more options (and a long lead time of the process), you don’t have to worry about passing on a locked-in rate, assuming your other options are with different banks (if you decline a locked-in rate, you are usually barred from another quote for 60/90 days.) Plus if you know you have 4.25% locked in, you have a strong negotiating position with others for their best rate.

Welcome from Singapore! Wow, 0.6% rate is ridiculously low! I’m so impressed money is that cheap. Are the Indonesians and mainland Chinese buyers pouring in still?

I can’t believe how much property prices have risen in Singapore since 2003. It used to be so cheap compared to Hong Kong!

Curious to know how you stumbled across my site?

Best, Sam

We are typically paying 1.2% to 1.5% on the average for ARMs and about 2% for fixed. One of my colleagues just negotiated a refinanced ARM (four years fixed and floating thereafter) for 0.6%!

By the way, I’m from Singapore, check out our housing prices! I keep wondering if we will eventually end up in a bubble as well.