The soaring SIBOR rates have caused a lot of pain to many house owners as many bank adjusted upward their mortgage interest rates. I am one of those affected as my bank increased the interest by $200 per annum. More carnage is expected for the market as the Federal Reserve is expected to hike interest rates in a couple of weeks. Thankfully, my loan amount is not too big, so the impact of the upcoming Federal Reserve interest rate hike will be minimal. Incidentally, the lock-in period for my mortgage loan will end next month, so I am looking at refinancing or repricing my outstanding mortgage loan. Lets take a look at the important factors when choosing the various mortgage loan packages in the market, so that you won’t get ripped off by the banks. My first consideration for a mortgage loan is actually the lock-in period. I am looking ......