Is it a good news for first time home buyer?
BNM Cut Rate Again But Not Benefit For New Loan, BNM Cut Rate Again But Not Benefit For N
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 May 5 2020, 03:26 PM
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May 5 2020, 08:10 PM
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QUOTE(waghyu @ May 5 2020, 06:44 PM) Yeah, than later OPR go up, interest go up as well. It's good for existing loan holder, but those want to buy NOW, need to decide on future OPR climbing as well into their equations. Hmm, meaning try to get loan offer with lower spread rate? |
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May 5 2020, 08:27 PM
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QUOTE(waghyu @ May 5 2020, 08:17 PM) No, what I mean is doesnt mean OPR low not you listen to people thinking interest is low. Interest is variable subject to OPR and will cost you more later. I see, since OPR has been cut from 3% to 2%. We should calculate what the bank offered loan will be at after increasing it by 100 points ya? Else later really increase back to 3%, then effective rate is more than 4% or higher, jiaklatExample. Every RM1 million loan for 20-30 years, 0.5% is worth RM270/month interest. If OPR go up, you need to pay extra RM270 in proportion of RM1mill. |
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