Why you should consider refinancing your Singapore Mortgage Loans now

Why you should consider refinancing your Singapore Mortgage Loans now – There are many things you should watch out during a downturn and a recession. Most of the time recession causes job losses and therefore a drastic fall in income. When this happens, people spends less which triggers an even deeper recession.

Why you should consider refinancing your Singapore Mortgage Loans now

One of the good things that do happen during such a situation is when government wants to promote the flow of cash and money in the financial system, they will low interest rates. Interest rates that are lowered will mean people borrowing more to buy things and also to invest into their businesses. This means that more money will end up flowing and keeping the economic system from tanking.

When interest rates fall, the banks will follow suit to reduce their interest rates across board. Which means your savings will actually get lesser interest and also at the same time the loaning rates will also fall.

In a good economy, rates for mortgage loans in Singapore can be around 2.x% and this is quite common in a good economy. Now with the rates of the loans going for 1.7x% for some banks, you can expect the mortgage economy to be quite low for a period of time.

For most residential property owners, they will choose to refinance their mortgages so that they can save on interest rates. This is because mortgage loans in Singapore will increase after their lock in period of 2 or 3 years and this is something that is very common across Singapore and the rest of the world.

For our clients that work closely with us, they will know that we strongly recommend Avant Mortgage as their Mortgage Refinancing Singapore advisory and also for those who require help with Mortgage Advisory Singapore, you can also speak to them.

We are keen to assist you with your Xero Accounting Services needs.

Why you should consider refinancing your Singapore Mortgage Loans now

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