One of Singapore's leading home lenders, DBS, just launched a home loan promotion that offers a fixed rate package with an introductory rate of 1.89% (as of July 18, 2019) in the first year. This is noteworthy due to the fact that this fixed rate loan's first year rate is currently cheaper than any floating rates on the market, which are almost always the cheaper option. With this news in mind, we've laid out some important considerations for current and prospective homeowners as they compare the home loan and home loan refinancing options available to them.

The first thing to consider when comparing home loans or refinancing options the choice between fixed and floating rates. With a fixed rate, borrowers are guaranteed a set interest rate for a number of years. On the other hand, floating rates can change frequently based on