I-LIBOR, emva kokuba inani elibaluleke kakhulu kwiimarike zezemali, liya kunyamalala kwimbali emva kweJuni 2023 kwaye ayisayi kusetyenziselwa ukubolekwa kwexabiso.

Ukuqala ngo-2022, iimali-mboleko ezilungelelanisiweyo zababolekisi bezindlu zibotshelelwa kwisalathiso-i-SOFR.

Ingaba iSOFR iwachaphazela njani amaxabiso emali-mboleko adadayo? Kutheni kufuneka kusetyenziswe iSOFR endaweni yeLIBOR?

Kweli nqaku siza kucacisa ukuba yintoni kanye kanye i-SOFR kwaye zeziphi iindawo eziphambili ezixhalabisayo xa kubalwa inzala ehlengahlengiswayo.

 

Uhlengahlengiso lweMali-mboleko ye-Mortgage (ARM)

Xa kujongwa amazinga enzala aphezulu angoku, abantu abaninzi bakhetha ukubolekwa imali enokuhlengahlengiswa, ekwaziwa ngokuba zii-ARM (Adjustable-Rate Mortgages).

Igama elithi “ukulungelelaniswa” lithetha ukuba izinga lenzala liyatshintsha ebudeni beminyaka yentlawulo yemali-mboleko: Umlinganiselo wenzala omiselweyo kuvunyelwana ngawo kwiminyaka embalwa yokuqala, ngoxa inzala yeminyaka eseleyo ilungiswa ngamaxesha athile (ngokuqhelekileyo rhoqo emva kweenyanga ezintandathu okanye ngonyaka).

Umzekelo, i-5/1 ARM ithetha ukuba izinga lenzala lizinzile kwiminyaka emi-5 yokuqala yentlawulo kunye notshintsho rhoqo ngonyaka emva koko.

Ngexesha lesigaba sokudada, nangona kunjalo, ulungelelwaniso lwezinga lenzala luphinde lufakwe (ii-caps), umz. 5/1 ARM idla ngokulandelwa yinombolo enemivo emithathu 2/1/5.

·I-2 ibhekisela kwi-cap yokuqala yokulungelelaniswa kwenzala (i-cap yokulungisa i-initial). Ukuba inzala yakho yokuqala kwiminyaka emi-5 yokuqala yi-6%, i-cap kunyaka wesithandathu ayikwazi ukudlula i-6% + 2% = 8%.

·I-1 ibhekiselele kwi-cap yohlengahlengiso ngalunye lwezinga lenzala ngaphandle kweyokuqala (i-cap yokulungelelaniswa okulandelayo), okt ubuninzi be-1% ngohlengahlengiso ngalunye lwezinga lenzala oluqala kunyaka wesi-7.

·Isi-5 sibhekiselele kumda ongaphezulu wohlengahlengiso lwenzala ngexesha lonke lemali-mboleko (uhlengahlengiso lobomi bexesha elide), okt izinga lenzala alinakudlula kwi-6% + 5% = 11% kwiminyaka engama-30.

Ngenxa yokuba izibalo ze-ARM zinzima, ababoleki abangaziqhelanga ii-ARM bahlala bethanda ukuwela emngxunyeni! Ngoko ke, kubaluleke kakhulu ukuba ababoleki baqonde indlela yokubala inzala eguquguqukayo.

 

Ziziphi iindawo eziphambili ze-SOFR ezixhalabisayo xa ubala izinga lokudada?

Kwi-5/1 ye-ARM, inzala emiselweyo kwiminyaka eyi-5 yokuqala ibizwa ngokuba yinqanaba lokuqala, kwaye inzala eqala kunyaka we-6 yinzala ehambelana ngokupheleleyo, ebalwa nge-index + margin, apho i-margin igxininiswe kwaye isalathisi ngokuqhelekileyo yi-30-day average SOFR.

Ngomda we-3% kunye ne-30-day average average ye-SOFR yangoku yi-4.06%, inzala kunyaka we-6 iya kuba yi-7.06%.

Yintoni kanye kanye esi salathisi se-SOFR? Makhe siqale ngendlela iimali-mboleko ezilungelelaniswa ngayo.

ELondon ngeminyaka yee-1960, xa ukunyuka kwamaxabiso kwakunyuka, akukho bhanki zazizimisele ukwenza iimali-mboleko zexesha elide kumazinga amiselweyo ngenxa yokuba zaziphakathi kokunyuka kwamaxabiso ezinto ezinyukayo kwaye kwakukho umngcipheko omkhulu wokunyuka kwamaxabiso enzala.

Ukusombulula le ngxaki, iibhanki zenze iimali-mboleko ezihlengahlengiswayo (ii-ARM).

Ngomhla ngamnye wohlengahlengiso, amalungu equmrhu ngalinye adibanisa iindleko zawo zokuboleka ngokwahlukeneyo njengereferensi yomlinganiselo wokusetha ngokutsha, uhlengahlengiso lwenzala ehlawuliswayo ukubonisa ixabiso lemali.

Kwaye ireferensi yolu tshintsho yi-LIBOR (i-London Interbank Offered Rate), odla ngokuva ngayo - isalathiso esiye sachazwa ngokuphindaphindiweyo kwixesha elidlulileyo xa kubalwa inzala ehlengahlengiswayo.

Ukuza kuthi ga ngo-2008, ngexesha lobunzima bezemali, ezinye iibhanki bezithandabuza ukucaphula amaxabiso aphezulu okuboleka imali ukuvala ingxaki yazo yenkxaso-mali.

Oku kubhentsise ubuthathaka obukhulu be-LIBOR: I-LIBOR yagxekwa ngokubanzi ngenxa yokungabina siseko sentengiselwano yokwenyani kwaye yenziwe lula. Ukusukela ngoko, imfuno yokuboleka imali phakathi kweebhanki yehle kakhulu.

Ekuphenduleni umngcipheko wokunyamalala kwe-LIBOR, i-Federal Reserve yakha i-Alternative Reference Rates Committee (ARRC) kwi-2014 ukufumana ireyithi entsha yokutshintshela indawo ye-LIBOR.

Emva kweminyaka emithathu yomsebenzi, i-ARRC yakhetha ngokusemthethweni iReyithi ye-Secured Overnight Financing Rate (SOFR) njengomlinganiselo wokutshintshwa ngoJuni ka-2017.

Ngenxa yokuba i-SOFR isekwe kumyinge wobusuku obunye kwimarike yerepo exhaswa nguNondyebo, phantse akukho mngcipheko wetyala; kwaye ibalwa kusetyenziswa ixabiso lentengiselwano, ukwenza ukuguqulwa kube nzima; ukongeza, i-SOFR lolona hlobo ekurhwetywa ngalo kwimalike yemali, enokubonisa kakuhle inqanaba lenzala kwimalike yenkxaso-mali.

Ke ngoko, ukuqala ngo-2022, i-SOFR iya kusetyenziswa njengomgangatho wamaxabiso eemali-mboleko zexabiso elidadayo.

 

Ziziphi iingenelo zexabiso lemali-mboleko yendlu ehlengahlengiswayo?

I-Federal Reserve okwangoku ikwinqanaba lokunyuka kwezinga kunye ne-30-year fixed rates ye-mortgage kumanqanaba aphezulu.

Nangona kunjalo, ukuba ukunyuka kwamaxabiso kwehla kakhulu, i-Federal Reserve iya kungena kumjikelezo wokunciphisa inzala kwaye amaxabiso e-mortgage abuyele kumanqanaba aqhelekileyo.

Ukuba izinga lenzala yemarike liyehla kwixesha elizayo, ababoleki banokucutha ngempumelelo iindleko zokubuyisa kwaye baxhamle kwinzala ephantsi ngaphandle kokufumana inkxaso-mali kwakhona ngokukhetha imali-mboleko ehlengahlengiswayo.

Ukongeza, iimali-mboleko ezihlengahlengiswayo nazo zinenzala ephantsi ngexesha lokuzibophelela kunezinye iimali-mboleko zexesha elimiselweyo kunye neentlawulo ezisezantsi zenyanga zangaphambili.

Ngoko kwimeko yangoku, intlawulo yemali mboleko iya kuba yinto efanelekileyo.