With Home Loan Rates Staying High, Should You Pay Down Your Mortgage? | Money Mind | Interest Rate
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- Опубликовано: 14 авг 2023
- How should you manage your mortgage as rates continue to stay high? Should you be thinking about paying it down early?
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Hey great story, please keep us informed of your journey. Just a thought, I noticed the book that got you started was written by Jared Martinez. Jared is known as The FX Chief, he owns a company, Master Traders Institute ( MYSTICFLIP )in Florida. I am sure he would appreciate your story.
There's no such thing as good debt or bad debt, always pay off the highest interest debt.
Is the mortgage rate 3.5%?
@@tyrant_hermitcurrently its as low at 3.050% depending on your loan amt. Why do you want to pay that off is beyond me...
Tackling a high-interest mortgage requires a smart approach. Paying it down early might be a prudent move, especially in times of elevated rates. Your financial peace of mind should always be a priority.
According to NEA, the stall occupancy rate of the food centre was about 90% last month, out of a total of 135 stalls.
Hawkers have to submit monthly rental bids during NEA’s monthly tender exercises to secure a stall there, Stalls are awarded to the highest bidder.
He suggested another reason for the exit of these hawkers is that many former coffee shop vendors overbid on their rental prices and were unable to sustain their stalls in the long run.
Some former coffee shop vendors were encouraged to bid high rental prices because of the heavy subsidies for rent and services handed out by the government during the pandemic.
Does HDB depreciate even as homeonwers pay higher interest on their mortgage?
In our current modern world. Do we still believe property is STILL a good debt? Lets be realistic, prolonged loan tenure vs slow capital appreciation doesnt equal to good debt. Choose the right property only is good debt. Not every property is good debt.
The rule is to reduce debt, dont always think we can stay complacent after categorizing every property is good debt
When you hear debt is good. You know you have heard great bs.
😂🤡
This video is for the more investment savvy individual. Small minded people dont need to think too much, just pay full cash for your housing.
To be considered “Affordable”, the HPI ratio needs to be 3.0. That means in the examples depicted in the advertisement, the 3-room, 4-room, and 5-room BTO flats have to be sold at $108,000, $180,000 and $252,000, respectively.
And let us not forget that HDB flats are public housing, not private properties.
Issue with paying off bills is many people just find new bills.
My parents are a good example. They make 100k each so they make great money. I let them live with me for $500 everything included and they still burnt through all the profits of selling their home. I encouraged them to buy a house and lock that money up. Unfortunately they can only get ahead by living check to check. Otherwise they are always just broke.
😢
Which kid charges $500 for parents staying with you. What a guy huh
This one even 3 yr old know lah...pay back more to lower loan...but if got so much money then in the first place would not loan so much loh unless got rich father loh!😆😆😆😆
The irony is that the harder they try, the more apparent it is that they have become out of touch with realities on the ground.
Can the Housing and Development Board (HDB) flat still be considered a golden nest egg?
If the flat declines in value with age, potentially plummeting to zero value, it becomes a constant source of worry.
Minister Desmond Lee also came out with out of touch comments about Singaporeans accepting high-price BTO flats in mature estates.
Given a choice, Singaporeans would gladly bargain down the price. Is that allowed?
High mortgagae rate generally cause property assets to depreciate also.. unless your property is generating good income for you higher then your mortgagae it is not necessary a good debt..
“Severely Unaffordable”
However, according to the Demographia International Housing Affordability Survey 2022, published by the Urban Reform Institute and Frontier Centre for Public Policy, any HPI ratio of more than three is considered unaffordable.
getting advice from mortgage brokers. in every way possible they would be silly to tell everyone to not have a loan😂
Well, forget about them being mortgages brokers. Is it wise to pay off housing loan currently as low as 3.050% p.a.? There are so many ways to generate a higher returns than that. Heck put it in t-bills currently at 3.7% and you'll still have higher yields.
Hong Kongers are coming to Singapore 🇸🇬 to get further from the repressive Chinese regime,
with pros:
- bunch of money,
- unsympathetic attitude towards the Chinese regime,
and cons:
- skyrocketing house prices,
- unaffordability for local Singaporeans.
SG housing isn’t affordable
Why u not making $8500 a month? People doing nothing also can earn $8500.
investments in the digital market is really advisable because despite the recent happings in the digital market I still make about $29k profits from my investments bi weekly
Investing is all about taking risks and being smart in the market, you need an expert to help you in the digital market and you can't go wrong with Mrs LAUREN MURIEL
I am a doctor who has no time to trade, Laureen Muriel takes care of my account and sends my profit to me on a weekly basis
I just looked her up out of curiosity and surprisingly she seems really proficient, I thought this was just an overrated person, I appreciate this
Yes....she actually convinced me to start investing on crypto when I was not sure of the stock market and am happy I listened cause it has really changed my life
@@MichaelLarry-bk9yi Don't believe these marketing scams online. They are always appearing and lying to you about how much they have made and then offering you a referral. If you really need a financial advisor, look for them under big investment firms. Don't get it here and lose all your monies.
With home loan staying high, Singaporeans should avoid getting married and having children, just as what the policy seems to nudge Singaporeans towards. Hope the future SG government find a way to grow test tube babies independently and raise them themselves to become upstanding members of society, as I certainly don't see us replacing ourselves anytime soon.
Agreed. Or offsprings of the ministars can sustain the monster created by their own doing
For Singaporeans to spend $5 on roti prata and carrot cake (essentially breakfast food) is not considered cheap by any means.
It is certainly cheap for those on a million-dollar salary. But then again, millionaires would hardly be eating out at hawker centres on a daily basis - unlike the rest of us. The assumption is Singaporeans are rich
We already know that Tharman is a man without even an iota of courage to stand up for himself, much less for others or the country, as evident when he was told off by PM Lee that Singapore is not ready for an Indian Prime Minister.
But to finally see just how deviously complicit he has actually been as a PAP minister all these years, I wonder how on earth he can, if elected as the president, rebuke any of his former PAP cadres when his hands are as stained as theirs.
Import more from India
India biggest export - people. India biggest production - people. Soon the globe's spinning would be wobble because of the excess imbalanced weight (mass).