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Homeowners can now make a smart decision on which loans meet their present and future needs, rather than just hoping to refinance to a lower interest rate over the next 2 or 3 years.
SINGAPORE, June 03, 2021 /24-7PressRelease/ -- Deciding on a home loan option is usually based on the lowest interest rate at the point of decision making, but that has changed with DollarBack Mortgage's new proprietary solution. The solution analyses all interest rate benchmarks for home loans in Singapore including SORA, SIBOR, Fixed Deposit rates, Board rates, as well as historical data from past economic cycles and interest rate trends.
From the data collected, DollarBack Mortgage's predictive engine extrapolates the interest rates that banks might release at specific economic cycles, and a general trend of how the interest rate environment will look like for minimally the next 3 years.
"By having a data-backed forecast of how the mortgage interest rates may change, homeowners can now make a smart decision on which loans meet their present and future needs, rather than just hoping to refinance to a lower interest rate over the next 2 or 3 years," Jovin Pendhar, Director of DollarBack Mortgage shares.
The company's next goal would be to automate its advisory process so that clients can access the predictive analysis engine directly through its website, to get instant recommendations on the ideal home loans for their needs.
DollarBack Mortgage is a Singapore-based company that provides mortgage specific knowledge and information previously well kept within the banking industry to the general public.
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