Mar 5 2020, 12:21 AM
QUOTE(DisneyHome @ Mar 4 2020, 07:34 PM)
Too sad to say confirm no interest rate change for new home loan application despite OPR cut whereby announced by BNM yesterday (I have called my some bank officers to reconfirm)
That's mean, if interest rate offered before was BR + 0.75% = 4.25% (before base rate cut was 3.50%), now become BR + 1.00% = 4.25% (after base rate cut to 3.25%)
Bear in mind, during Jan'20 BNM had announced OPR cut simultaneously BR also follow the suit but same practice for majority bank (ie no change of interest rate offer for new home loan by that time)
Really? So bank follows the OPR cut by reducing BR, but increase the interest rate to maintain back the mortgage interest? That's mean, if interest rate offered before was BR + 0.75% = 4.25% (before base rate cut was 3.50%), now become BR + 1.00% = 4.25% (after base rate cut to 3.25%)
Bear in mind, during Jan'20 BNM had announced OPR cut simultaneously BR also follow the suit but same practice for majority bank (ie no change of interest rate offer for new home loan by that time)
A few post back you also mentioned, when BNM announce OPR increase, our mortgage loan will hike more than expected example from 4.25 (BR 3.25 + Interest 1) to 5% (BR 4 + 1)??
Lol. Bank win liao lo
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