Jan 14 2010, 11:49 AM
QUOTE(lowyat888 @ Jan 14 2010, 11:43 AM)
hope the bank negara dont revise upwards the BLR or else will see alot of people selling property due to high interest. property price will then fall for sure especially those with high borrowing, paying high interest and not even touch the principal. those bought a few property for investment eg high interest loan, tax on 5% property gain etc
as seen this new year alot of thing or price will go up eg sugar, food, fuel, toll, electric, water etc this is not a good sign
Waiting for that to happen as seen this new year alot of thing or price will go up eg sugar, food, fuel, toll, electric, water etc this is not a good sign
. Then can pickup some cheap auction property since the property market now is overheated. In fact China yesterday just raised the bank reserve by 5%, to curb the overheated market. BNM also have asked the bank to stop zero cost mortgage plans.BLR is an ever changing figure. If you sign a 30 year contract with BLR - 2.0, then the interest rate you are paying will fluctuate over time and you will be paying at the prevailing rate. If the current BLR is 5.5% then you pay 3.5%m if BNM revise the rate to lets say 9%, you will be paying interest at a rate of 7%. So in a nutshell the higher the BLR, the more interest you pay.
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. wait for their expected target quota to hit then
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