Are you guys ready for hike in interest rate?, Interest rate rising in July & September
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 Jul 8 2014, 10:12 AM
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#1
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Senior Member
1,099 posts Joined: Aug 2005  
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QUOTE(lucifah @ Jul 8 2014, 10:06 AM) 25 point increase Not mistaken is 25 ringgit, not 2.5 lol. Nasi lemak also more expensive than that...let's translate int dollar and cents if ayam servicing a loan of rm 1,000 per month previosuly would a 25 point increase means i'll have to pay RM 1,002.50 instead?  |
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Jul 8 2014, 01:02 PM
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#2
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Senior Member
1,099 posts Joined: Aug 2005
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QUOTE(hey_there @ Jul 8 2014, 12:53 PM) I still don't know how the new BLR gonna affect new buyer. I just paid my booking fee for an under con property and in the midst of looking for home loan. This is my 1st property. Since it is a no dibs property, the only affect that I can see is that I'm going to pay more interest while waiting for vp. Am I right? installment higher, so your mortgage to income ratio (M/I) increases and may affect the bank's decision to provide the loanbut i don't foresee it will affect most application as the increase of 0.25% is not much really... |
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Jul 8 2014, 01:11 PM
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#3
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Senior Member
1,099 posts Joined: Aug 2005
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QUOTE(gogo2 @ Jul 8 2014, 01:03 PM) 0.25 is a lot. in terms of banks' decision to approve the loan it wont be affected muchI hear people scream after getting BLR-2.3% instead of BLR-2.4% (which is differed by 0.1%). case in point 900k loan for 30 years at 4% (assuming house price is 1 mil) monthly repayment is 4297 at 4.25% monthly repayment is 4427 difference is only rm130 per month.. but in terms of 30 years payment at an increased interest rate.. then it is indeed a lot... my rm0.02 |
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